September 28, 2015—Progress Rail Services Corporation, a Caterpillar company, and one of the largest suppliers of railroad products and services to the railroad and transit industries, has entered into a definitive agreement to purchase Rail Product Solutions, Inc. (RPS) from Amsted Rail Company, Inc. RPS is the leading North America provider of mission critical track fastening products and integrated fastening systems.
Progress Rail President and Chief Executive Officer Billy Ainsworth said, “This acquisition shows our continuing commitment to grow our business and expand our product and service offerings for our customers. RPS is a leader in track fastening systems, and I am proud to have them join the Progress Rail and Caterpillar team.”
The RPS product line provides fundamental components for the rail infrastructure, playing a crucial role in enhancing reliability and minimizing track downtime. For more than 90 years, RPS has built a reputation of delivering a best-in-class product offering that is highly valued by customers.
“Our focus on high quality products and dependable service has enabled Progress Rail to be a preferred supplier in the rail industry,” added Progress Rail Engineering and Track Services Senior Vice President Dave Roeder. “The RPS acquisition expands our portfolio of track related products and allows us to provide more comprehensive solutions to our customers. RPS is a good strategic fit, and a good cultural fit, as their team shares the same passion for customer service and satisfaction as Progress Rail.”
The acquisition is anticipated to close once regulatory approvals are received.
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About Progress Rail Services Corporation and Electro-Motive Diesel, Inc.:
Progress Rail Services Corporation, a wholly owned subsidiary of Caterpillar Inc., is a total solutions provider of locomotive, railcar, engineering and track products and services for the global railroad industry. Since the acquisition of Electro-Motive Diesel, Inc., (EMD) Progress Rail and EMD work as one team to design, manufacture and sell locomotives, engines and aftermarket parts for customers around the world.
With headquarters in Albertville, Ala., more than 8,000 employees serve customers in a network of 200 locations across the United States, Brazil, Canada, Mexico, Germany, Italy, the United Kingdom, China, India, South Africa and Australia.
For more information, visit www.progressrail.com and follow @Progress_Rail on twitter and YouTube.