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Monday, November 16, 2009

Portec Rail Products named to Forbes 200 best small companies

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Portec Rail Products, Inc., was recently named to the Forbes magazine listing of the 200 Best Small Companies. Forbes states that candidates must have annual revenue between $5 million and $750 million, be publicly-traded for at least one year and have a stock price no lower than $5. Rankings are based on earnings growth, sales growth and return on equity in the past 12 months and over the last five years.

Richard Jarosinski, President and Chief Executive Officer, stated, "We are pleased to once again be part of this list of exceptional performers, especially in what continues to be a very challenging economic climate for our industry. We believe that the overall diversification in our markets and product groups as well as providing quality products and solutions have been keys to our success. Our dedication to developing and applying new technology and innovation to the offerings that we provide the rail industry is driving the results that allow this type of recognition. Our friction management product group, and in particular our Total Friction ManagementTM program, which offers multiple operational savings for both heavy-haul freight and passenger service, are examples of the new technology and innovation that we are providing to increase asset life, operating ratio and bottom-line performance for our customers. Friction management continues to grow despite the economic downturn, and our efforts have resulted in a second North American Class 1 customer making a major expansion in the use of our top of rail friction control solutions. Additionally, our wayside data management and health monitoring products provided by Salient Systems, which are improving customer metrics such as train velocity, asset life and safety are further examples of our commitment to technology and innovation. We believe that our commitment to the development of multiple solutions for the success of the rail industry will position Portec Rail to achieve higher levels of operating performance when favorable economic conditions return to our industry."

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