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Meridian Rail Corp. and engineering-services company Packer Technologies International Inc. (PTI) Feb. 14 formed a partnership aimed at sharing and improving the companies' product-development, engineering and foundry-technology services.
Meridian Rail — which recently was formed by Three Cities Research Inc. and Cerberus after the privately held companies acquired substantially all of ABC-NACO Inc.'s U.S. operating assets, and European and Chinese operations — plans to outsource rail-product development and engineering services to PTI, while continuing to focus on its core manufacturing business. The partnership would enable Meridian Rail to more quickly market its products and services.
"This partnership will enable our companies to better manage the costs associated with product and process innovation," said Meridian Rail Chief Executive Officer John Waite in a prepared statement.
PTI plans to provide Meridian Rail broad engineering services aimed at improving the casting process, and enhancing freight-rail and track products. The company also would assist Meridian Rail with all process documentation and audits, product approvals, product and process developments, testing, metallurgical analyses, and creation and management of intellectual properties.
Several key Meridian Rail engineering personnel recently transitioned to PTI, which plans soon to take over activities at Meridian Rail's Lombard, Ill., advanced testing facility.
Meridian Rail, which manufactures rail-car undercarriage and coupling systems, and track products, and offers wheel-mounting services, is divided into Meridian Rail Services, Meridian Rail Track Products, Meridian Rail Products and Meridian Rail Europe.