Network Rail sells plant hire business
UK: Network Rail has completed the sale of its Network Rail (NDS-Plant) Ltd specialist heavy plant and equipment hire business to TXM Plant.
Network Rail (NDS-Plant) was formed in November 2011 when the infrastructure manager purchased the rail division of Hydrex Equipment (UK) Ltd from administrators KPMG. This was intended as a temporary measure to ensure continuity for the largest supplier of road-rail vehicles to the UK rail industry. An open tender for the sale of the business was launched in February.
An NR spokesman told Railway Gazette International that the sale price was not being disclosed, as it was a 'commercially confidential deal between two private companies', but stressed it was 'not a nominal sum'.
Martin Elwood, Director of NR's National Delivery Service, said the sale 'will enable Network Rail Infrastructure Ltd to safeguard hundreds of jobs and will allow essential rail maintenance, enhancement and renewal programmes across the rail network to continue without disruption'.