AmCham Macedonia Summer 2013 (issue 38) - Page 7

ANALYSIS wagons, passenger wagons, electromotor trains and metros, locomotives and special vehicles and test benches. We export to more than 100 customers in 50 countries. EM: How important is innovation in an industry like yours? I imagine freight and passenger train standards don’t evolve at the same pace passenger automobiles do. Simbil: You’re right that we maintain systems much longer, since rail investments are built to last generations. This means there is a huge amount of “after market” demand for parts, maintenance, etc. However, innovation is just as important in our industry as any other. The original Westinghouse Air Brake Company was founded in 1869 when George Westinghouse invented the straight air brake, revolutionizing the rail industry. Today, Wabtec remains focused on developing profitable new products • on average, railroads are four times more fuel efficient than trucks and move a ton of freight 469 miles on a single gallon of fuel; public transportation in the U.S. saves 4.2 billion gallons of gasoline annually and reduces the nation’s carbon emissions by 37 million metric tons per year; and • Population growth trends, urbanization, global trade expansion, and increasing environmental and sustainability awareness mean that developed and developing countries around the world will continue to invest in rail. This is good news for Wabtec MZT since we focus primarily on the freight industry, but are also transitioning our products toward the transit market. In fact, we’ve already more than doubled our sales since 2009. This is why Wabtec Corporation continues to invest in Wabtec MZT’s CAPEX, personnel, and process reorganization. Wabtec MZT diversifies the corporation’s product lines with more than 500 brake devices that cover all types of air brake wagons and helps even out business cycles. Our work is also great for the Macedonian economy, since we export of 99% of what we make and have almost 150 local suppliers and subcontractors who supply everything from fasteners, gas, tools and castings to machine processing services, heat treatment, forging and more. EM: Your corporate website says that “Wabtec is the only NYSE company whose shares rose continuously during the past 10 years.“ What do you think explains this incredible achievement given the economic turbulence of the last decade? and technologies that help our customers improve safety, quality, productivity and capacity. Wabtec Corporation holds 1,250 patents worldwide. In fact, two of our employees, won the State Industrial Property Office’s 2012 Patent of the Year for their invention of the IBB. I’d also like to point out that train travel is both traditional and will be a strong part of the future. Industry trade groups will tell you that: Emerging Macedonia Summer 2013 Issue 38 Simbil: We provide highly engineered, value-added products and services to our customers and combine practical innovations with the best in modern manufacturing and business practices to generate above average, long-term returns for our shareholders, and to provide our employees with a safe, challenging and dynamic work environment. Continued on page 34 7