Wabtec Corp. (NYSE: WAB) is buying Fandstan Electric Group Ltd. for $215 million in cash.

London-based Fandstan designs, manufactures and installs elect5rical current and data-collection products for the rail transportation, industrial and energy markets. The company’s products include pantographs, third-rail shoe gears, electrical contacts and brush holders from brand names Brecknell Willis, Stemmann Technik and Transtech.

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