Progress Rail to acquire RPS from Amsted

Written by Jenifer Nunez, assistant editor
image description
Rail Product Solutions

Progress Rail Services Corporation, supplier 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 a provider of track fastening products and integrated fastening systems.

 

“This acquisition shows our continuing commitment to grow our business and expand our product and service offerings for our customers,” said Progress Rail Services President and Chief Executive Officer Billy Ainsworth. “RPS is a leader in track fastening systems and I am proud to have them join the Progress Rail and Caterpillar team.”

“Our focus on high-quality products and dependable service has enabled Progress Rail Services to be a preferred supplier in the rail industry,” said 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.

Tags:

Media