WILMERDING, Pa., Nov. 14, 2018 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB) announced that at a special meeting today the company’s stockholders approved proposals in connection with its planned combination with GE Transportation.

Raymond T. Betler, Wabtec’s president and chief executive officer, said: “We’re very gratified that our stockholders expressed strong support for the proposals and, therefore, our combination with GE Transportation. This milestone marks a critical step in the process toward merging our two companies, which we believe will accelerate innovation for our customers; generate improved earnings, margins and cash flow for our stockholders; and create long-term growth opportunities for our employees.”

The transaction is expected to be completed by early 2019, subject to customary closing conditions. It is possible that the proposed combination could be completed at an earlier time if the closing conditions are satisfied sooner.

At today’s special meeting, more than 99 percent of the shares that were voted, or more than 85 percent of Wabtec’s total outstanding common stock entitled to vote, approved an amendment to Wabtec’s charter to increase the number of authorized shares of the company’s common stock and the issuance of its common stock in connection with the planned combination.

Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail. Through its subsidiaries, Wabtec manufactures a range of products for locomotives, freight cars and passenger transit vehicles. Wabtec also builds new switcher and commuter locomotives, and provides aftermarket services. Wabtec has facilities located throughout the world.