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Portec Rail acquires Vulcan Chain's railroad-related product line


Today, Portec Rail Products Inc. announced it reached an asset purchase agreement with Vulcan Chain Corp. to acquire the freight securement product supplier’s railroad product line for $4.3 million in cash.

The deal, which is subject to a three-year earnings provision based on the product line’s sales volume, includes certain patent interests, equipment and other assets.

“Vulcan is a major supplier of new and reconditioned tie-down systems for the shipment of new automobiles and vans by the rail industry,” said Portec Rail President and Chief Executive Officer Richard Jarosinski in a prepared statement. “Vulcan’s hand-brake chain products will strengthen Portec Rail’s relationship with rail-car builders.”

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

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More News from 10/11/2006