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

Report calls for new, expanded rail systems in Dallas-Fort Worth area

The projected cost of two of the new rail lines suggested would be about $3 billion, according to the Mobility 2045 report.

Study could help riders find right place to stand in before train arrives

Passengers stood in the best possible position on the platform when they received continuous, mostly visual information.

BART to add new ride quality monitoring tool

Incorporating cutting edge GPS and accelerometer sensors with an intuitive easy-to-use control software interface, dFuzion Inc.'s rMetrix effectively and efficiently assesses ride quality, comfort, and safety.

Wabtec, GE Transportation to merge

Union is expected to drive the advancement and implementation of technology solutions to improve safety, efficiency, and productivity for the transportation industry.

L.A. Metro marks Regional Connector milestone

The rail line, which is now 50% complete, is expected to serve 88,000 riders daily.

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 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