LRW Honors Amtrak’s Acheson As Railway Woman Of The Year
From Editor-In-Chief Foran: Of Gender Equity And Inclusion
Spotlight On Some Of Today’s Rail Safety Products
Women of Influence in Rail eBook
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry
Stay updated on news, articles and information for the rail industry
railPrime
Rail News Home
Rail Industry Trends
Rail News: Rail Industry Trends
3/27/2003
Rail News: Rail Industry Trends
Global Railway secures funds to purchase G&B Specialties
advertisement
Global Railway Industries Ltd. recently completed a financing agreement, enabling the supplier to issue 3.7 million subscription receipts at $1.37 per receipt.
Each receipt entitles the holder to one Global Railway common share after the company purchases G&B Specialties Inc.
The agreement enables Trilwood Ltd. to become Global Railway's largest shareholder, owning about 24 percent of the supplier's stock.
Global Railway also recently secured a five-year, $2.4 million loan — the supplier plans to use all receipt and loan proceeds to acquire G&B Specialties, which manufactures track-switching products. The companies reached a sale agreement in February.
"The purchase of G&B will approximately double Global's revenues and profitability," said Global Railway President Mike Kohut in a prepared statement.
Each receipt entitles the holder to one Global Railway common share after the company purchases G&B Specialties Inc.
The agreement enables Trilwood Ltd. to become Global Railway's largest shareholder, owning about 24 percent of the supplier's stock.
Global Railway also recently secured a five-year, $2.4 million loan — the supplier plans to use all receipt and loan proceeds to acquire G&B Specialties, which manufactures track-switching products. The companies reached a sale agreement in February.
"The purchase of G&B will approximately double Global's revenues and profitability," said Global Railway President Mike Kohut in a prepared statement.
