Benzinga | Oct 5, 2021 07:27AM EDT

Wabtec Bags 60M Order For Platform Gates To Support Marseille Metro Automation Project

* Westinghouse Air Brake Technologies Corp (NYSE:WAB) has received an order to supply platform gates to Marseille's metro automation project.

* The deal is valued at (euro)60 million and is part of France's second city plans to upgrade and automate its local transport network.

* Wabtec's Faiveley Transport and Eiffage Genie Civil M?diterran?e and Eiffage Energie Systems Mediterranee will supply Metropole Aix Marseille Provence with all the platform gates for lines 1 and 2 of Marseille NEOMMA that are being automated.

* The gates are designed to be environmentally sustainable and reduce energy consumption in standby mode (7 times less energy used during active mode).

* Work on-site will begin in 2023, and the project will be completed by the end of 2026.

* Price Action: WAB shares closed higher by 0.43% at $88.98 on Monday.