Progress Rail Services
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| Private (subsidiary of Caterpillar) | |
| Industry | Transportation |
| Founded | Albertville, Alabama, U.S. (1982) |
| Headquarters | Albertville, Alabama, United States |
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Number of locations
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United States - 110 Mexico - 28 Canada - 4 Brazil - 2 UK - 5 Italy - 1 Germany - 1 |
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Area served
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Worldwide |
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Key people
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William P Ainsworth, Chief Executive Officer |
| Products |
List
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| Services |
List
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Number of employees
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4,055 |
| Parent | Caterpillar |
| Divisions | Engineering & Track Services (ETS) Locomotive & Railcar Services (LRS) |
| Subsidiaries |
List
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| Website | progressrail.com |
| Footnotes / references [1][2][3] |
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Progress Rail Services Corporation, a wholly owned subsidiary of Caterpillar since 2006, is a supplier of railroad and transit system products and services headquartered in Albertville, Alabama, United States.[1] Founded as a recycling company in 1982, Progress Rail has increased the number of its product and service offerings over time to become one of the largest integrated and diversified suppliers of railroad and transit system products and services in North America.[4] Progress Rail markets products and services worldwide and maintains 110 facilities in the United States, 34 in Mexico, four in Canada, two in Brazil, five in UK, one in Italy, and one in Germany.[1][2] Progress Rail is organized into two divisions: Engineering & Track Services (ETS) and Locomotive & Railcar Services (LRS).[3]
Contents
History
Progress Rail Services Corporation traces its roots to a recycling company founded in Albertville, Alabama, United States in 1982.[4]
Progress Rail became a division of Progress Energy in 2000 as a result of the merger of Florida Progress Corporation and Carolina Power & Light Company.
In February 2005, Progress Energy announced it was selling Progress Rail to One Equity Partners for $405 million.[5] The sale closed on March 28, 2005, with Progress Rail becoming a separate private company.[6]
On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1 billion in cash, stock and debt.[7] The acquisition by Caterpillar was announced as part of its long-term strategy, Vision 2020.
In July 2011 the company announced it was to assemble EMD locomotives at a plant leased in the state of Minas Gerais, Brazil.[8][9]
Acquisitions
On May 24, 2008 Caterpillar agreed to acquire all of the capital stock of MGE - Equipamentos e Serviços Ferroviários Ltda., a São Paulo, Brazil-based locomotive component and transit car services company to become part of Caterpillar's Progress Rail Services Corporation. The acquisition of MGE marked Progress Rail's first entry into the South American market.[10]
On June 1, 2010, Caterpillar announced Progress Rail Services Corporation would buy Electro-Motive Diesel from Berkshire Partners LLC and Greenbriar Equity Group LLC for US$820 million.[11] The purchase was completed on August 2, 2010, making Electro-Motive Diesel a wholly owned subsidiary of Progress Rail Services Corporation.[12]
During 2010, Progress Rail acquired two makers of signal equipment, Coast to Coast Signal Engineering and C&S Signaling, as well as a General Electric subsidiary involved in the signal industry; now Progress Rail Inspection & Information Systems.[13]
Federal Investigation
During October 2013, Caterpillar announced that a federal criminal indictment had been secured against Progress Rail Services.[14]
Products
Locomotives
Progress Rail and its subsidiary Electro-Motive Diesel currently offer freight, passenger, repowered and used locomotives.
Signals
Progress Rail's Signal Division makes grade crossing and wayside signals under the name Lincoln Industries.
References
- ↑ 1.0 1.1 1.2 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 2.0 2.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 3.0 3.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 4.0 4.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Progress Energy announces sale of rail services subsidiary, Progress Energy, 18 February 2005
- ↑ Progress Energy closes on sale of rail subsidiary , Progress Energy, 28 March 2005
- ↑ Caterpillar to acquire Progress Rail, PRdomain, 17 May 2006
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
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External links
- Lua error in package.lua at line 80: module 'strict' not found., company website
