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

Feds wants more proof of local money for Durham-Orange light rail line

Go Triangle expects its Board of Trustees to vote April 26 on a $70 million engineering contract, which would be executed only after the FTA allows the project to advance.

SEPTA trains collide, injuring 4

Crews are still working to remove the 18 cars involved, with each car weighing about 37 tons. The NTSB is on the scene and fully in charge of the investigation.

Minn. legislators attempting to move $900M from rail to roads, bridges

GOP legislators have long sought to block planning and funding for light-rail projects, saying they put metro-area priorities above rural Minnesota.

Alstom secures $105M Australian trainset contract

The contract will expand PTV’s fleet to 101 trains (606 cars) delivered from Alstom’s manufacturing facility in Ballarat since 2002.

DC Streetcar fares to remain free

The decision to hold off on charging fares was based on two reasons — District Department of Transportation feared charging even $1 per ride would scare away passengers and charging a fare would actually cost the District money.

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