World Library  
Flag as Inappropriate
Email this Article

Progress Rail Services

Article Id: WHEBN0023514015
Reproduction Date:

Title: Progress Rail Services  
Author: World Heritage Encyclopedia
Language: English
Subject: Companies based in Albertville, Alabama, 1982 establishments in Alabama, Caterpillar, Best Manufacturing Company, NC2 Global
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Progress Rail Services

Progress Rail Services Corporation
Type Private (subsidiary of Caterpillar)
Industry Transportation
Founded Albertville, Alabama, U.S. (1982 (1982))
Headquarters Albertville, Alabama, United States
Number of locations United States - 110
Mexico - 28
Canada - 4
Brazil - 2
UK - 5
Italy - 1
Germany - 1
Area served Worldwide
Key people William P Ainsworth, Chief Executive Officer
Products Remanufactured locomotives and railcars
Rail and other track materials
Special trackwork
Signals & communication products
Rail welding equipment
Remanufactured trackwork components
Railroad MOW equipment
Vegetation control equipment
Services Rail and other track material sorting
Track removal
Signal & Communication design, installation and maintenance
Mobile welding
Equipment financing, leasing and rental
Locomotive and railcar repair and refurbishment
Recycling
Employees 4,055
Parent Caterpillar
Divisions Engineering & Track Services (ETS)
Locomotive & Railcar Services (LRS)
Subsidiaries Electro-Motive Diesel
Lincoln Industries
MGE – Equipamentos e Servicos Ferroviarios Ltda
Progress Rail Leasing Corporation
Progress Rail Inspection & Information Systems Srl & GmbH
Website www.progressrail.com
Footnotes / references
[1][2][3]

Progress Rail Services Corporation, a wholly owned subsidiary of [3]

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]

During October 2013, Caterpillar announced that a federal criminal indictment had been secured against Progress Rail Services. This indictment will probe stealing from Union Pacific Railroad, among others in an ongoing (alleged) fraud for replacing brake parts on railroad cars that were not necessary. In order to hide this alleged criminal activity, Caterpillar/Progress Rail Services decided to dump barges full of environmentally hazardous material off the coast of Long Beach, California.

Products

Locomotives

Progress Rail currently offers four models of locomotives:[14]

Signals

Progress Rail's Signal Division makes grade crossing and wayside signals under the name Lincoln Industries.

References

  1. ^ a b c "Progress Rail Services - Company Overview". progressrail.com. Progress Rail Services Corporation. 2010. Archived from the original on 2010-10-24. Retrieved 2010-10-24. Progress Rail Services Corporation, a subsidiary of Caterpillar Inc.,... 
  2. ^ a b "MGE Transportes". mgetransportes.com. MGE Equipamentos & Serviços Ferroviários Ltda. 2009. Archived from the original on 2010-10-24. Retrieved 2010-10-24. ...two factories: one in Diadema and another in Hortolandia, both in the state of Sao Paulo. 
  3. ^ a b "The Power of Progress at Work" (Adobe ShockWave flash video - .swf). progressrail.com. Progress Rail Services Corporation. 2010. Archived from the original on 2010-10-24. Retrieved 2010-10-24. Two divisions....Locomotive & Railcar Services....Engineering & Track Services... 
  4. ^ a b "Progress Rail Services - Services - Recycling". progressrail.com. Progress Rail Services Corporation. 2010. Archived from the original on 2010-10-24. Retrieved 2010-10-24. Progress Rail Services started out as a recycling company in the early 1980s, and although we have expanded our line of product and service offerings,... 
  5. ^ Progress Energy announces sale of rail services subsidiary, Progress Energy, 18 February 2005
  6. ^ Progress Energy closes on sale of rail subsidiary , Progress Energy, 28 March 2005
  7. ^ Caterpillar to acquire Progress Rail, PRdomain, 17 May 2006
  8. ^ "Progress Rail announces Brazilian locomotive plant", www.railwaygazette.com ( 
  9. ^ "Caterpillar expands diesel-electric locomotive manufacturing plant in Brazil", en.mercopress.com ( 
  10. ^ "Caterpillar Announces Acquisition of Leading Brazilian Locomotive Component and Transit Car Services Company" (Press release). Caterpillar, Inc. 2008-06-24. Archived from the original on 2010-10-24. Retrieved 2010-10-24. MGE Equipamentos & Servicos Ferroviarios Ltda. will become part of Caterpillar's Progress Rail Services Division 
  11. ^ "Progress Rail Services - Progress Rail Acquires Electro-Motive Diesel". progressrail.com. Progress Rail Services Corporation. 2010-06-01. Archived from the original on 2010-10-24. Retrieved 2010-10-24. Progress Rail Services has signed a definitive agreement to purchase Electro-Motive Diesel (EMD) for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC. Upon completion of the transaction, EMD will become a wholly owned subsidiary of Progress Rail. 
  12. ^ "Progress Rail Services Finalizes Electro-Motive Diesel Acquisition" (PDF) (Press release). Caterpillar. 201-08-02. Archived from the original on 2010-10-29. Retrieved 2010-10-29. Progress Rail Services announced today it has finalized the purchase of Electro-Motive Diesel... 
  13. ^ tt_news=12556&cHash=8967e69f2a "Progress Rail buys Coast to Coast Signal Engineering"]. Railway Gazette International. 22 December 2010. Retrieved 23 December 2010. 
  14. ^ "Progress Rail Services". TrainWeb. Retrieved 31 July 2010. 
  15. ^ "Novidades na Linha - PROGRESS RAIL PR7B – CBTU NATAL". Central Ferreo. Retrieved 28 April 2013. 
  16. ^ New locomotive fleet for Tasmania railexpress.com.au 15 December 2011
  17. ^ TasRail unveils its two new locomotives TasRail 3 December 2013
  18. ^ PR221 Branch Line Locomotive & Derivatives Downer Rail
  19. ^ TR class Railpage
  20. ^ TR class Rail Tasmania

External links

  • "Progress Rail Services Corporation", progressrail.com , company website
    • "Lincoln Industries - Railroad Equipment Manufacture, Fabrication, Rebuild And Installation", lincoln-industries.com , Lincoln Industries website
    • "MGE", www.mgetransportes.com.br (in Portuguese) , MGE Transportes website
    • "Electro Motive Diesel", www.emdiesels.com , EMD company website
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.