Rail

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

Siemens wins New York Communications-Based Train Control contract

The $156 million contract is to install the system on the Queens Boulevard Line, one of the busiest subway lines on the New York City Transit system.

Bike repair kiosks coming to select MARTA stations

MARTA partnered with the Atlanta Bicycle Coalition, a bike advocacy and rider education organization, to initiate the campaign and identify locations for the repair kiosks.

Sacramento RT's Blue Line extension begins service

The expansion offers local commuters an alternative to congested Highway 99 and brings new transit service to the area’s major employers. It will also encourage new retail and residential development in specially zoned areas along the light rail line.

Ariz.'s Valley Metro extends rail line into Downtown Mesa

Seven months ahead of schedule and on budget, the additional 3.1-miles of service on Main Street between Sycamore Drive and Mesa Drive was greeted with big cheers from riders, business owners and local leaders.

San Diego MTS offers free video-on-demand service on trolleys

First U.S. public transportation system offering mobile-based multi-channel VOD

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 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