WABTEC BEFORE THE
POSITIVE RESULT OF A JURY TRIAL AGAINST
COURT OF NEW YORK
Press Release – 30 June 2011
Faiveley Transport announces today the result of a jury trial in the United States.
On June 28, 2011, a jury in New York rendered a verdict against Wabtec for compensatory damages in the amount of $18.1 million, plus interest, on account of both past and future damages for Wabtec’s liability to Faiveley Transport USA,
Faiveley Transport Nordic, Faiveley Transport Amiens and Ellcon National for trade secret misappropriation, unjust enrichment, and unfair competition.
This jury follows the New York Court’s decision on liability, issued on May 13, 2011, finding that Wabtec had misappropriated Faiveley Transport’s trade secrets in certain manufacturing drawings necessary to manufacture and build Brake
Friction Cylinders and Actuators (the BFC TBU, PB and PBA) and that Wabtec continued to use tainted manufacturing drawings to solicit and obtain contracts in the North American market place.
This decision may be subject to an appeal from Wabtec.
Through this verdict, Faiveley Transport is compensated for the loss of market share it suffered in North America.
Shareholders’ agenda: 25 July 2011 Q1 sales 2011/2012 14 September 2011 Annual General Meeting 24 October 2011 Half Year sales 2011/2012
FAIVELEY TRANSPORT, WORLD LEADER IN THE RAILWAY INDUSTRY
About Faiveley Transport
Faiveley Transport, a specialist player in the global market for high-tech components for rail systems, offers the most extended range of products in the industry: air conditioning, power information & control, passenger access systems, platform screen doors, braking, couplers and customer service.
The Group supplies manufacturers, operators and railway maintenance bodies with a comprehensive value chain: design, manufacturing, distribution and servicing. Faiveley Transport provides high value-added technical solutions, whilst guaranteeing its customers the utmost level of quality, service, comfort and availability.
FAIVELEY Transport
+ 33 (0) 1 48 13 65 03
Guillaume BOUHOURS Chief Financial Officer guillaume.bouhours@faiveleytransport.com
Kasha DOUGALL Group Communications + 33 (0) 1 48 13 65 11 kasha.dougall@faiveleytransport.com
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