Progress Rail to buy Rail Product Solutions
USA: Caterpillar subsidiary Progress Rail Services Corp announced that it had reached a definitive agreement to purchase track fastening supplier Rail Product Solutions Inc from Amsted Rail Co on September 29. Completion of the transaction is subject to regulatory approval.
The acquisition ‘expands our portfolio of track related products and allows us to provide more comprehensive solutions to our customers’, said Progress Rail Engineering & Track Services Senior Vice-President Dave Roeder. ‘RPS is a good strategic fit and a good cultural fit’.