August 31, 2016 7:07 PM ET


Company Overview of Ricon Corp.

Company Overview

Ricon Corp. designs, manufactures, and installs mobility products for commercial, paratransit, transit, motorcoach, passenger rail, and DOT public use vehicles, as well as for school buses. The company’s products include wheelchair lifts, six-way power transfer seat bases, wheelchair ramps, hidden frame and standard frame windows, rapid replacement windows and glass guards, multi-slope low-floor bus ramps, and low-floor bus ramps. It offers its products through commercial dealers. The company was founded in 1971 and is based in San Fernando, California. Ricon Corp. operates as a subsidiary of Westinghouse Air Brake Technologies Corporation.

1135 Aviation Place

San Fernando, CA 91340

United States

Founded in 1971





Key Executives for Ricon Corp.

Managing Director of Europe and Vice President of Europe
Vice President of Business Development
Vice President of Sales & Marketing - Bus Products
Director of Product Assurance
Compensation as of Fiscal Year 2016.

Ricon Corp. Key Developments

Ricon Corp. to Pay $1.75 Million Civil Penalty

Transportation Secretary announced that a California manufacturer will pay a $1.75 million civil penalty and agree to increased oversight by the National Highway Traffic Safety Administration for continuing to sell defective wheelchair lifts even as it had issued a recall of the lifts to remedy a potential fire hazard. Ricon Corp. has agreed to a consent order including the penalty and an admission that the company violated the Traffic and Motor Vehicle Safety Act by selling the defective equipment and violated federal safety regulations by failing to promptly notify NHTSA that it had done so. Beginning in September of 2012, Ricon recalled more than 4,000 wheelchair lifts that it sold to manufacturers of vans and buses. The recall remedied a defective cable that could spark a fire. In June of 2013, NHTSA began contacting bus and van manufacturers who used Ricon wheelchair lifts to make sure they were aware of the recall. As part of that effort, NHTSA asked Ricon when it had stopped producing the defective lifts, but Ricon failed to respond to repeated requests for the information. Under the consent order, Ricon: Admits its violations of the Safety Act and federal vehicle safety regulations. Agrees for the next year to acknowledge any communication from NHTSA within three business days. Is required to develop internal written procedures to prevent future manufacture and sale of products already under recall for safety defects, and for the next year to report to NHTSA every 90 days on its implementation of those procedures.

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Recent Private Companies Transactions

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