Caterpillar unit to buy Electro-Motive Diesel
With 2009 revenues of $1.8 billion, company has the largest installed base of diesel-electric locomotives in the world and offers extensive range of locomotive products.
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.
More Rail
New York MTA Advances Final Contract for Second Avenue Subway Expansion
Contract Four is the largest in the Second Avenue Subway Phase 2 project and includes construction of station infrastructure, tracks, and signals for the subway expansion, MTA officials said. Work on Contract Four will begin in 2027.
Read More →
San Diego MTS Breaks Monthly Trolley Ridership Record
Agency officials said July’s ridership indicates MTS’s continued recovery from the pandemic.
Read More →
Report Examines NJ TRANSIT Reliability, Funding Challenges
The Garden State Initiative analysis examines the roles of Amtrak infrastructure, fleet management, and agency operations while recommending a more performance-based approach to improving reliability.
Read More →
Stadler, CapMetro Sign Long-Term Rail Fleet Support Agreement
Beginning in 2027, Stadler will provide on-site technical expertise, spare parts support, training, and obsolescence management to help extend the reliability and longevity of CapMetro’s GTW fleet.
Read More →
Biz Briefs: Alstom Lands Canadian Contract, LYT to Supply California TSP, and More
In METRO's latest installment, we take a look at recent news from Complete Coach Works, Beep, FlixBus, and more partnerships making headlines across the transportation sector.
Read More →
CATS Gold Line Marks 5 Years of Service, 2.8M Passenger Trips
With a six-mile expansion planned, the Charlotte streetcar is positioned to connect more neighborhoods and major transit hubs across the region.
Read More →
Why Simulating Pedestrian Movement Has Become Essential for Modern Rail Stations
Pedestrian microsimulation is helping rail planners identify bottlenecks, test station designs, and prepare complex transit hubs for growing passenger volumes.
Read More →
Amtrak Begins Major Construction at New York’s Sunnyside Yard
The new maintenance facility will support Amtrak’s Airo trainsets while improving maintenance efficiency and turnaround times in New York.
Read More →
Chicago Leaders Unveil Plans for O’Hare Airport Express Train
The privately developed project would offer a 15-minute trip between downtown and O’Hare’s Terminal 2, with trains operating every 15 minutes on a dedicated track. The service would use battery-electric trains and three existing freight rail rights-of-way.
Read More →
OCTA Maps Out 30-Year Strategy to Protect Coastal Rail Corridor
The draft feasibility report identifies strategies to protect the coastal rail line for decades as the agency continues near-term stabilization and sand placement efforts.
Read More →