Westinghouse Air Brake Technologies Corp (NYSE:WAB), also known as Wabtec, forged its entrance into the railcar telematics market via an agreement with Intermodal Telematics B.V. to create a railcar telematics platform using IMT technology.
The new railcar telematics platform will deliver real-time information to railcar and tank container owners and operators. It will help container owners and operators to make rail cargo into smart, connected assets.
The railcar telematics will include sensors, gateways, wireless communications, and analytics.
Wabtec plans to begin offering this railcar telematics solution in the first quarter of 2024.
“The rail industry is on the verge of a new era where the use of real-time data about the status and condition of cargo will be transformative to the customer experience and supply chain efficiency,” said Nalin Jain, Group President of Digital Intelligence at Wabtec.
The technology will be offered for retrofit on existing fleets and will be integrated into Wabtec’s current railcar components from the production level.
Price Action: WAB shares closed higher by 1.36% at $121.53 on Wednesday.
Photo Via Wikimedia Commons
