Rail

Portec Rail acquires Kelsan for $16.4 million

Posted on November 2, 2004

Portec Rail, a Pittsburgh-based rail product manufacturer, will acquire Kelsan Technologies Corp. Vancouver, British Columbia-based Kelsan is a developer of proprietary friction control solutions for the railway industry. The all-cash acquisition is valued at $16.4 million. The acquisition will expand Portec's friction- management capabilities and its ability to provide products and services to the railway industry.

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