UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 28, 2011

 

 

WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

1-13782		25-1615902
(Commission File Number)		(IRS Employer Identification No.)
1001 Airbrake Avenue Wilmerding, Pennsylvania		15148
(Address of Principal Executive Offices)		(Zip Code)

(412) 825-1000

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Item 8.01.

Other Events.

On May 14, 2010, Faiveley Transport USA, Inc., Faiveley Transport Nordic AB, Faiveley Transport Amiens S.A.S, and Ellcon National, Inc. filed a complaint against Wabtec Corporation (the “Company”) in the U.S. District Court for the Southern District of New York. A jury trial took place in New York City from June 20, 2011 to June 28, 2011, and the jury awarded the plaintiffs $18.1 million, pending potential post-trial adjustments for any previous payments and interest. The Company disagrees with the outcome and will appeal. In the meantime, the Company will record a charge in the second quarter equal to the amount of the $18.1 million award, which was not included in previous earnings per diluted share guidance.

A press release regarding this matter, dated June 28, 2011, is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

 

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.

The following exhibit is filed with this report on Form 8-K:

 

Exhibit No.		Description
99.1		Press release dated June 28, 2011.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: July 1, 2011

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EXHIBIT INDEX

 

Number		Description		Method of Filing
99.1		Press release dated June 28, 2011.		Filed herewith.

Exhibit 99.1

 

		News Release

Wabtec Issues Statement On Court Ruling

WILMERDING, PA, June 28, 2011 – Wabtec Corporation (NYSE: WAB) today issued the following statement on a court ruling involving claims filed against the company by subsidiaries of Faiveley Transport S.A.:

“Wabtec and SAB WABCO signed a product license agreement in 1993, when the two companies had common ownership. Faiveley Transport S.A. acquired SAB WABCO in 2004 and the license agreement was mutually terminated at the end of 2006. In 2009, after a lengthy litigation process, an Arbitral Tribunal of the International Chamber of Commerce decided that Wabtec should pay a reasonable royalty totaling $3.9 million to Faiveley Transport Malmo, a subsidiary of Faiveley Transport S.A., based on past and predicted future sales of certain brake components through 2011. The royalty was related to sales of these components based on a trade secret misappropriation claim brought by Faiveley Transport Malmo under the 1993 license agreement.

“In April 2011, a U.S. judge issued an order that allowed other Faiveley Transport subsidiaries to pursue similar claims for damages in a jury trial. The trial ended today, and the jury awarded the Faiveley subsidiaries $18.1 million, pending potential post-trial adjustments for any previous payments and interest. Wabtec disagrees with the outcome and will appeal. In the meantime, the company will record a charge in the second quarter equal to the amount of the $18.1 million award, which was not included in previous earnings per diluted share guidance. The company is confident the ruling will have no impact on its ability to provide products and services to customers now and in the future.”

Wabtec Corporation (www.wabtec.com) is a global provider of value-added, technology-based products and services for the freight rail and passenger transit industry.

 

Tim Wesley		Phone: 412.825.1543		Wabtec Corporation
		E-mail: twesley@wabtec.com		1001 Air Brake Avenue
		Website: www.wabtec.com		Wilmerding, PA 15148