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Portec Rail sells former U.K. manufacturing plant for $2 million

Portec Rail Products Inc. recently sold its former Wrexham, Wales, United Kingdom manufacturing plant to GHA Coaches for $2 million.

Portec Rail will use proceeds to reduce outstanding debt. The company closed the facility in December 2006 as part of a U.K. reorganization. Portec Rail’s centralized rail and material handling operations now are located in Sheffield and Leicester, England, respectively.

“The sale completes the reorganization of our United Kingdom operations, which began last year,” said Portec Rail President and Chief Executive Officer Rich Jarosinski in a prepared statement.

Portec Rail markets rail joints, anchors and spikes; railway friction-management products; railway wayside data collection and data management systems; and load securement systems. The company produces railway products and material handling equipment in the United Kingdom.

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More News from 4/4/2007