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10/15/2004



Rail News: M&A

Remotes controlled: Cattron Group acquires CN's Beltpack business


Today, Cattron Group Inc. announced it acquired Canadian National Railway Co.’s Beltpack business, which includes Canac Remote Control Technologies Inc., formerly Vectran Corp.

"The combined strengths make Cattron Group and the Beltpack business a natural fit due to our complementary service offerings and customer-focused cultures," said Cattron Group Chairman Tom McFall in a prepared statement. "The combined organization will offer a greater range and depth of services to our customers. We are excited about the opportunity this provides Cattron Group and all of our employees."

The parent company of Cattron-Theimeg Inc., Cattron Group manufactures industrial remote control products. The company also provides professional services.

Canac Remote Control Technologies and Beltpack products include the BELTPACK® and CANTRAC® radio remote control systems for locomotives, and the former VECTRAN remote control systems for industrial applications. The BELTPACK®, CANTRAC® and VECTRAN products will become part of Cattron Group's existing product offering.

Headquarters for the combined companies will be in Sharpsville, Pa.

"We acquired the Beltpack business and Canac Remote Control Technologies Inc. because of their strong track record in the industry," said Cattron Group President Jim Robertson. "This is part of the Cattron Group's strategy to grow our core business. We believe that the combined strength of the companies reinforces our foothold in the remote control technology market."

The transaction also will provide "significant opportunities" to enhance Cattron Group's current and prospective customer relationships through expanded product offerings and delivery channels, Robertson added.

Cattron Group companies have implemented more than 10,000 rail-related installations worldwide, and more than 100,000 total in rail and other industries, including shipyards, mining, aerospace, steel, military and material handling.




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