Wabtec inks $700M deal in Africa, its largest on the continent

PITTSBURGH — Rail conglomerate Wabtec Corp. announced a $700 million agreement with a Guinean company.

In Guinea, there’s a lengthy railroad that connects a mine in eastern Guinea to a port in the west. Wabtec (NYSE: WAB) has inked several deals with rail companies to support this effort, including a $248 million contract to deliver locomotives to a consortium last year.

Now, the company announced a new deal with La Compagnie du TransGuinéen, a joint venture between a number of stakeholders involved that operates their respective shared infrastructure, namely the aforementioned railway. Wabtec will provide a number of services to the company, including maintenance and logistics support.