Progress Rail and Wabtec have reached a settlement in the lawsuit filed by Progress Rail, which accused Wabtec of engaging in anti-competitive practices following its 2019 acquisition of GE Transportation. Progress Rail, a division of Caterpillar, had argued that Wabtec's $11 billion acquisition of GE Transportation resulted in a dominant market position for diesel-electric long-haul freight locomotives and their components. The lawsuit, which involved Progress Rail's manufacturing of the former General Motors line of motive power, alleged that Wabtec (NYSE: WAB) exploited its market power through exclusionary tactics. These tactics reportedly included limiting data flow for compatibility purposes, imposing costs on competitors, and making false claims about Progress Rail's potential exit from the market, all of which allegedly harmed competition and consumers. In a joint one-paragraph statement announcing the settlement, Progress Rail, based in Albertville, Alabama, and Wabtec, headquartered in Pittsburgh, stated, '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.'