Progress Rail to acquire Rail Product Solutions from Amsted

Progress Rail Services Corp. has entered into an agreement to purchase Rail Product Solutions Inc. (RPS) from Amsted Rail Company Inc.

Acquiring RPS will help expand Progress Rail's portfolio of track-related products and provide more comprehensive solutions to customers, Progress Rail officials said in a news release. RPS provides track fastening products and integrated fastener systems in North America.

"RPS is a good strategic fit, and a good cultural fit, as their team shares the same passion for customer service and satisfaction as Progress Rail," said Progress Rail Engineering and Track Services Senior Vice President Dave Roeder.

The acquisition is expected to close following regulatory approval. Progress Rail did not disclose financial terms of the acquisition in the news release.