GE Transportation and Progress Rail Services Corporation have completed the sale of GE's Inspection Products business to Progress Rail. Inspection Products is part of GE's larger signaling and communications division, known as Intelligent Control Systems (ICS) and part of GE Transportation. Inspection Products designs, manufactures and sells hot wheel and hot box detectors, data acquisition systems, draggers and other related inspection products for the global freight and passenger rail segments.
The acquired business unit will fall under Progress Rail's Engineering and Track Services group, and will be referred to as the Inspection and Information Systems business. The relevant people and assets currently being utilized in GE's Inspection Products business to fulfill track inspection business contracts will be transferred to the Progress Rail family of companies.
"The acquisition of GE's Inspection Products business represents an important part of Progress Rail's international growth strategy," said David Roeder, senior vice president of Progress Rail's ETS group. "We welcome the management and employees of GE's Product Inspection business to Progress Rail and Team Caterpillar and look forward to serving GE Transportation's existing customers, as well as providing Inspection and Information Systems products to the European rail segment."
In a press release, both companies stressed their cooperation to ensure a smooth and seamless transition of this business and to maintaining a long-term relationship.