Progress buys Australian track business
AUSTRALIA: The Progress Rail Services subsidiary of Caterpillar finalised the purchase of Pacific Rail Engineering’s track business on June 17.
‘The acquisition of PRE is another step in expanding our global footprint to meet our customers’ needs,’ said Billy Ainsworth, Progress Rail President & CEO. ‘With nearly 25 years of experience, PRE is well established in the Australian railroad supply market. This acquisition is a strategic opportunity to expand our offerings in an important market, including rail welding, maintenance-of-way equipment, asset protection products and wayside signalling products.’