1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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): November 14, 2000 WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 1-13782 25-1615902 - --------------------------------------- --------------------------- ------------------------------------- (State or other jurisdiction of (Commission File Number) (IRS Employer Identification incorporation) Number) 1001 Air Brake Avenue, Wilmerding PA 15148 ------------------------------------------ (Address of principal executive offices) (412) 825-1000 ------------------------------- (Registrant's telephone number) ------------------------------------------------------------- (Former name or former address, if changed since last report)
2 ITEM 5. OTHER EVENTS. The Company announced it has settled a lawsuit filed in February 1999 by GE Harris. The settlement will be recorded in the fourth quarter of 2000 and is expected to reduce earnings by $0.02 to $0.03 per diluted share in the fourth quarter of 2000. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Not applicable. (b) Not applicable. (c) Exhibit 99.1. Text of press release dated November 10, 2000, issued by Westinghouse Air Brake Technologies Corporation.
3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION By: /s/ Robert J. Brooks ----------------------------- Name: Robert J. Brooks Title: Chief Financial Officer Date: November 14, 2000
4 INDEX TO EXHIBITS EXHIBIT NUMBER DESCRIPTION - -------------------------------------------------------------------------------- 99.1 Text of press release dated November 10, 2000, issued by Westinghouse Air Brake Technologies Corporation.
1 Exhibit 99.1 Wabtec Announces Settlement Of GE Harris Lawsuit WILMERDING, Pa., Nov. 10, 2000 -- Wabtec Corporation (NYSE: WAB) today announced that it has settled a lawsuit filed in February 1999 by GE Harris, an affiliate of General Electric Transportation Systems (GETS). Wabtec settled the suit, which alleged patent infringement and other claims, for $2 million worth of free products this year. In addition, Wabtec will pay $7 million for the future use of intellectual property patented by GE Harris. "After nearly two years of litigation, we were anxious to put this matter behind us and get on with the business of serving GETS, which has been a major customer of ours for many years," said William E. Kassling, chairman and chief executive officer of Wabtec. "In addition, we believe that the intellectual property rights that we are purchasing from GE Harris will improve the marketability of our own railroad electronics products." Wabtec companies provide GETS with original equipment components for new locomotives, as well as aftermarket services such as locomotive overhauls. "Wabtec has been an important, high-quality supplier, and we look forward to continuing our long-standing relationship," said John Krenicki Jr., president of GETS. Wabtec Corporation (www.wabtec.com) is North America's largest provider of value-added, technology-based products and services for the rail industry. Through its subsidiaries, the company manufactures a full range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services, including locomotive and freight car fleet maintenance. Wabtec's mission is to help its customers achieve higher levels of quality, safety and productivity so they can compete more effectively. The company has facilities located throughout the world.