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10/31/2019
Two major rail industry suppliers this week announced acquisitions to expand their track work portfolios.
Progress Rail yesterday signed an agreement to acquire the Cleveland Track Material (CTM) business from Vossloh North America.
CTM has served as a supplier of special trackwork to Class I and transit railroads, delivering turnouts and crossings for North America since 1983. CTM’s portfolio also includes switch points, frogs and crossing diamonds, brace and plating systems, rail joints and rail guides. The business has facilities located in Cleveland, Reading, Pennsylvania, and Memphis, Tennessee.
The proposed acquisition, anticipated to close in early November, will complement Progress Rail’s current trackwork products, Progress Rail officials said in a press release.
Meanwhile, Loram Pty Ltd. today has completed the previously announced acquisition of the rail grinding business of Aurizon Operations Ltd.
With this acquisition, Loram increased the number of its Australian customers to which it provides rail grinding services by four, including all mainline and turnout rail grinding for Aurizon Network Pty Ltd., Loram officials said in a press release.