Caterpillar unit to buy Electro-Motive Diesel

Posted on June 1, 2010

Progress Rail Services, a wholly-owned subsidiary of Caterpillar Inc.,  has signed a definitive agreement to purchase Electro-Motive Diesel (EMD) for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC.

Upon completion of the transaction, EMD will become a wholly-owned subsidiary of Progress Rail.

Progress Rail Services is one of the largest providers of rail and transit products
and services in North America, including: locomotive upgrade and repair, railcar
remanufacturing, trackwork, rail welding, rail repair and replacement, signal design and installation, maintenance of way equipment, parts reclamation and recycling.

With 2009 revenues of $1.8 billion, EMD has the largest installed base of diesel-electric locomotives in the world and offers the most extensive range of locomotive products in the rail and transit industry, according to a company statement.

“We feel this is an ideal fit for EMD and our customers and we look forward to
developing and providing an even greater portfolio of products and services for the rail
and transit industry that we have proudly served for more than 85 years,” said John S.
Hamilton, president and CEO of Electro-Motive Diesel.


View comments or post a comment on this story. (0 Comments)

More News

Dallas' rail-connected development driving regional growth, study says

Completed or under-construction TOD near DART stations has already generated $69 million in state and local tax revenue.

Uber endorses Sound Transit 3 light rail expansion ballot measure

The $54 billion ballot measure would add 62 miles of light rail with stations that would serve 37 new areas and grow the system to 116 miles.

L.A. Metro receives milestone 50th Kinkisharyo light rail vehicle

Currently, there are 38 Model P-3010 vehicles in service and the 50th car should be ready for revenue service by mid-December.

Amtrak bans Samsung Galaxy Note 7 smartphones

Faulty batteries on the phones that can overheat are blamed for fires around the world, prompting Samsung to issue recalls and stop production on the Note 7. The FAA has already banned the phones from all airlines.

DART adds 3 miles to Blue Line light rail system

Connecting an area known as the Education Corridor to downtown by light rail enables more people to discover the academic programs offered at the UNT Dallas, Paul Quinn College and Cedar Valley College.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close