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Rail News Home M&A

12/5/2005



Rail News: M&A

Amsted Rail, Progress Rail acquire assets from each other's business units



Last week, The Amsted Rail Group and Progress Rail Services Corp. announced they acquired assets from each other’s subsidiaries.

Amsted’s ASF-Keystone Inc. business unit acquired certain assets of Progress Rail’s FM Industries Inc. (FMI) division, which produces rail-car hydraulic cushion units.

Amsted plans to integrate FMI’s cushion units line into ASF-Keystone’s manufacturing business located in Camp Hill, Pa. Progress Rail will phase out cushion unit manufacturing at FMI’s Fort Worth, Texas, plant.

Meanwhile, Progress Rail acquired from Amsted certain operating assets of Brenco/QBS’ tapered roller bearing reconditioning business. The transaction includes Brenco/QBS’ plants in Petersburg, Va.; Little Rock, Ark.; and Sparks, Nev.

The acquisition enables Progress Rail to become the authorized reconditioner of all Brenco used bearings in the United States and Canada, and provide reconditioning services for all freight-car wheelset components.

A subsidiary of One Equity Partners L.L.C., Progress Rail also supplies various track materials and maintenance-of-way equipment, operates car and locomotive repair facilities, and provides rail welding and car dismantling services.

Amsted’s ASF-Keystone, Brenco/QBS and Griffin Wheel Co. units supply rail-car trucks, draft sills, couplers, draft gears, cushioning units, bearings and cast-steel wheels.


Contact Progressive Railroading editorial staff.

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