WATERTOWN — New York Air Brake LLC (NYAB has acquired the business assets of a Missouri firm and expects that a “complete integration” process will take between one year and 18 months. Watertown–based NYAB is purchasing the assets of Snyder Equipment Company, Inc., a Nixa, Missouri–based manufacturer of locomotive fueling and servicing equipment as well […]
WATERTOWN — New York Air Brake LLC (NYAB has acquired the business assets of a Missouri firm and expects that a “complete integration” process will take between one year and 18 months.
Watertown–based NYAB is purchasing 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 March 15 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 March 15, Snyder is now conducting business under the name of Snyder Equipment, a division of New York Air Brake LLC.
“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.
With the addition of Snyder Equipment, New York Air Brake “further strengthens” its air-supply product offering and adds wayside systems and service to better meet the needs of the North American market, per its release.
“Snyder has been an integral partner with its railroad customers in identifying opportunities and designing products to meet their challenges, from the equipment used to supply water to steam locomotives, to complete servicing systems for today’s powerful diesel electric locomotives,” Jason Connell, senior VP of marketing, sales, and service at New York Air Brake, said.
New York Air Brake now has more than 850 employees, a figure that includes the 100 employees at Snyder Equipment Company, Barbara Gould, a spokesperson for New York Air Brake, said in an email response to a CNYBJ inquiry.
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.
The Nixa, Missouri and Wheatland, Missouri manufacturing plants are part of the Snyder Equipment acquisition deal, Gould noted.
