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Rail News: M&A
6/8/2005
Rail News: M&A
New senior management-led company purchases Hovey Industries' products from RailWorks
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Last month, Hovey Industries (2005) Inc. purchased Hovey Industries Ltd.'s rail products and metal fabrication divisions from Railworks Corp. of Canada.
Wholly owned by senior managers, the new company will operate Hovey's two Ottawa-area manufacturing plants, and continue to employ all workers at the two divisions and maintain current management. Hovey Industries (2005) also will continue to commission, maintain and service its own products.
Railworks will maintain signals and communications contracting, including the installation of Hovey products on railway property.
Hovey Industries (2005) will supply railroad switch heaters, horizontal air curtains, equipment enclosures and cable trough.
Wholly owned by senior managers, the new company will operate Hovey's two Ottawa-area manufacturing plants, and continue to employ all workers at the two divisions and maintain current management. Hovey Industries (2005) also will continue to commission, maintain and service its own products.
Railworks will maintain signals and communications contracting, including the installation of Hovey products on railway property.
Hovey Industries (2005) will supply railroad switch heaters, horizontal air curtains, equipment enclosures and cable trough.
