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Loram acquires Tangent Rail's grinding division

Loram Maintenance of Way Inc. recently acquired Tangent Rail Corp.’s rail grinding division. Terms weren’t disclosed.

Loram obtained Tangent Rail’s rail grinder fleet and hired most of the firm’s grinding personnel, Tangent Rail said.

“With this transaction, Tangent Rail is better positioned to focus our resources on meeting railroad industry demand for [our core] products and services,” said Tangent Rail President and Chief Executive Officer William Donley in a prepared statement.

Tangent Rail Corp. supplies treated wood products and preservatives, and provides switching and track maintenance, and tie pickup and disposal services to the rail industry. PNC Equity Partners L.P. and former RailWorks Corp. managers formed Tangent Rail in fall 2005 to acquire RailWorks’ products and services division.

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More News from 3/21/2007