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Progress Rail Services Corp. subsidiary Progress Rail Leasing Corp. recently acquired FCM Rail Ltd., a lessor of maintenance-of-way (MOW) equipment.

The acquisition will enable Progress Rail to expand its MOW service offerings, according to a prepared statement.

FCM Rail specializes in MOW leasing and total equipment services, including warehouse leasing and short- and long-term equipment rentals. The lessor's equipment portfolio includes tampers, ballast regulators, spikers, spike pullers, anchor applicators, track stabilizers and undercutters.

“FCM is a well-known leader in the MOW leasing sector, and the company’s excellent reputation will only further enhance Progress Rail’s position as a key player in the MOW market,” said Dave Roeder, senior vice president of engineering and track services at Progress Rail.

Progress Rail also announced that Trent Marshall will succeed Denny Gilstad as FCM Rail president. Gilstad will serve as a consultant to Progress Rail.