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The Greenbrier Cos. Inc. has entered an agreement to acquire a 19.5 percent ownership stake in South American rail-car manufacturer Amsted-Maxion Hortolandia for $15 million. The agreement also provides Greenbrier with an option to acquire an additional 40.5 percent ownership interest to be exercised no later than Sept. 30, 2017. The investment is subject to customary closing conditions and is expected to close in the second quarter.
Broadband video and data communication systems and services company Teleste announced it is acquiring Mitron Group Oy Ltd., the Finnish provider of public transportation information systems and modern display solutions. The acquisition follows Teleste's strategy to become one of the leading suppliers of end-to-end video and information management solutions for the rail market, according to a company press release. A major aim of the transaction is to meet rail operators' growing demands for end-to-end solutions that enable more efficient operations with enhanced passenger service and security, Teleste officials said.Kelso Technologies Inc. announced several changes to its organizational structure to address future business development. Effective Jan. 2, Anthony Andrukaitis became executive vice president of business development. He will assume an active management role in pursuing growth of business opportunities, including mergers and acquisitions. Andrukaitis joined Kelso's board as an independent director in August 2011 and will continue to serve Kelso as a non-independent director. In addition, the company recently expanded its board from five directors to six, and intends to expand to seven directors at its annual meeting later this year. Also, Kelso appointed Phil Dyer to its board. He is past president of the LegacyTexas Bank.Alstom has completed installation of the signaling system for Hong Kong’s MTR West Island metro line, which began service last month. Hong Kong’s West Island line is an extension of the Island line with three new stations that are expected to serve about 230,000 people in its Western District. Alstom was responsible for the design, manufacture, testing and commissioning of the signaling system.Visual Marking Systems Inc. appointed James Weaver to vice president of sales and global markets. Weaver has more than 16 years of experience in sales and marketing leadership roles at 3M Co. He has been employed with VMS since October 2013 as the eastern business development manager.CORRECTION: Holland LP announced Russ Gehl has been promoted to vice president of maintenance of way sales. ProgressiveRailroading.com incorrectly reported Gehl's new title in yesterday's Daily News.
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