Progress Rail acquires Haynes Corp.

Progress Rail Services Corp. announced yesterday that it has acquired Haynes Corp., a manufacturer of precision diesel fuel injection systems for heavy duty engines.

The acquisition is a "good strategic fit" for the company's offerings of locomotive OEM service parts, as Haynes offers solutions that generate fuel savings and exceed the U.S. Environmental Protection Agency's expectations for emissions, said Progress Rail President and Chief Executive Officer Billy Ainsworth in a press release.

"Through this acquisition, Progress Rail shows our commitment to providing innovative solutions to the rail and power products markets," added Progress Rail Senior Vice President Marc Buncher.

Haynes' products include fuel injection pumps, injector assembles, nozzle assemblies, delivery valves, plungers and barrels, electronic injectors and contract manufacturing.

Progress Rail is a Caterpillar company.