BRUSSELS Oct 4 U.S. rail equipment maker Wabtec
Corp secured EU antitrust approval for its $1.8 billion
buy of Faiveley Transport after agreeing to sell the
French company's sintered friction material business.
The European Commission said the divestment of the unit,
Faiveley Transport Gennevilliers, would remove all overlaps
between Faiveley and Wabtec in this area.
Sintered train friction materials, which are materials
transformed from powder into a strong substance capable of
withstanding high temperatures and pressure, are key components
in modern train brake systems.
The EU competition enforcer had been concerned that the deal
to create one of the world's largest equipment suppliers to
public railway companies would reduce competition and lead to
higher prices for consumers.
(Reporting by Foo Yun Chee, editing by Robert-Jan Bartunek)