Wabtec Corp. has completed the acquisition of Poli S.p.A., a European-based manufacturer of rail braking equipment, for cash of €53 million (about $80 million). Based in Italy, Poli has annual sales of about €30 million (about $45 million), primarily in Europe.

"We will begin immediately to integrate our existing products and technological expertise with Poli's European-approved components," said Albert J. Neupaver, Wabtec’s president and chief executive officer. "We believe this combination positions us for future growth in key international markets and expect Poli to be a strong strategic fit."

Originally formed in 1816, Poli has manufactured a variety of braking-related components for the passenger rail and freight rail markets since 1952. The company’s products include brake discs for highspeed applications, as well as tread brake units and pneumatic brake valves that meet International Union of Railways (UIC) standards. Poli has about 500 employees at production facilities in Italy and Macedonia.