WATERTOWN, N.Y. — Watertown–based New York Air Brake LLC (NYAB) on Friday announced the signing of an agreement to acquire the business assets of a Missouri company.
NYAB is acquiring the assets of Snyder Equipment Company, Inc., a Nixa, Missouri–based manufacturer of locomotive fueling and servicing equipment as well as locomotive-component remanufacturing, NYAB said in a news release.
New York Air Brake didn’t disclose the terms of the acquisition. The company said the transaction represents a “continuation of NYAB’s strategic plan to diversify and expand its current capabilities and strong geographic reach.”
NYAB, which is part of the Knorr-Bremse Group, develops and supplies air-brake control systems and components; electronically controlled braking systems; foundation brakes; training simulators; train-handling systems, and wayside equipment to the rail industry.
Based in Munich, Germany, Knorr-Bremse is a manufacturer of braking systems for rail and commercial vehicles.
The transaction will immediately establish Snyder as a division of NYAB, incorporating the complete lineup of Snyder’s existing brands, products, sales, service, and manufacturing operations.
As of Friday, Snyder is now conducting business under the name of Snyder Equipment, a division of New York Air Brake LLC. NYAB expects that a “complete integration” process will take between one year and 18 months.
“With the addition of Snyder’s top-line products to our portfolio, railroad and support service customers will be able to turn to NYAB as a one-stop destination for an even wider range of high-quality products and services,” Ulisses Camilo, New York Air Brake president and CEO, contended in the release.
G. Samuel Benson, former president and CEO of Snyder, will continue in his current role as head of the division, NYAB said.
New York Air Brake has more than 850 employees. It operates manufacturing plants in Nixa, Missouri; Riverside, Missouri; Salisbury, North Carolina; West Chicago, Illinois; and Wheatland, Missouri; along with Train Dynamic Systems (TDS), a technology development unit located in Irving, Texas. New York Air Brake has been serving the rail industry since 1890.
Contact Reinhardt at ereinhardt@cnybj.com