Rail supplier news from Hanson, American Track, Universal Rail and TX Holdings (April 19)

Former Federal Railroad Administration Administrator Ronald Batory has been elected to serve as an external advisory member on the board of Hanson Group Inc., the parent company of Hanson Professional Services Inc. Batory, who led the FRA during President Trump's administration, fills the vacancy left by Gene Wilkinson, whose longtime service on the board ended April 11. Batory is the second outside advisory member on the board.

American Track Services (ATS) yesterday announced the acquisition of Universal Rail Systems (URS) in Canada and the creation of a new parent company, North American Rail Solutions. The two existing brands will operate under a consolidated umbrella, with ATS serving customers in the United States and URS serving customers in Canada. Thomas Lucario, current CEO of ATS, will serve as CEO for North American Rail, ATS and URS. Ken Reger will serve as chief financial officer. Tim McMillan will serve as president and chief operating officer of URS, lead operations in Canada and join North American Rail's board. The brands partner with organizations of all sizes and across all industries to help them build and strengthen their rail transportation infrastructure, company officials said in a press release.

TX Holdings Inc. announced second-quarter FY2023 revenue of $1.75 million, a 141% increase compared with the same fiscal period a year ago. The company posted net income of $231,556, up from net income of $20,268 in Q2 FY2022. TX supplies rail and rail products to the U.S. coal mining industry, short lines and tunneling contractors.