Industry Transportation Number of employees 4,055 Acquisition date 2006 Parent organization Caterpillar Inc. | Area served Worldwide Founded 1982 Key person William P. Ainsworth | |
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Type Private (subsidiary of Caterpillar) Number of locations United States - 110
Mexico - 28
Canada - 4
Brazil - 2
UK - 5
Italy - 1
Germany - 1 Key people William P Ainsworth, Chief Executive Officer Products List
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 Headquarters Albertville, Alabama, United States Subsidiaries Electro-Motive Diesel | ||
Atn z389 32ndst irondale al sd40t 2s great horn
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. 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. 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. Progress Rail is organized into two divisions: Engineering & Track Services (ETS) and Locomotive & Railcar Services (LRS).
Contents
- Atn z389 32ndst irondale al sd40t 2s great horn
- Client video testimonial progress rail services
- History
- Acquisitions
- Federal Investigation
- Locomotives
- Signals
- References
Client video testimonial progress rail services
History
"Progress Rail Services Corporation" traces its roots to a recycling company founded in "Albertville, Alabama", United States in 1982.
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. The sale closed on March 28, 2005, with Progress Rail becoming a separate private company.
On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1 billion in cash, stock and debt. 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.
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.
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. The purchase was completed on August 2, 2010, making Electro-Motive Diesel a wholly owned subsidiary of Progress Rail Services Corporation.
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.
Federal Investigation
During October 2013, Caterpillar announced that a federal criminal indictment had been secured against Progress Rail Services.
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.