Caterpillar's Progress Rail Settles with Wabtec
Progress Rail, a Caterpillar (CAT) company, and Wabtec (WAB) announced that the two parties have reached a settlement in Progress Rail v. Wabtec. The parties agree that this settlement is best for both companies, customers, and consumers, and the prospect of additional litigation is not in anyone's interest. There is no admission of liability. The two companies acknowledge that they have been and remain suppliers of long-haul freight locomotives and cab components, including Tier IV long-haul locomotives, to Class I Railroads and other customers.
