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Rail News: Mechanical

Global Railway to acquire YSD's rail-car door, side manufacturing assets


Global Railway Industries Ltd. recently reached an agreement with YSD Industries Inc. to acquire the rail-car door and side supplier's manufacturing assets. Terms weren't disclosed.

Pending final due diligence and various regulatory approvals, Global Railway would acquire YSD's land, buildings, machinery and equipment, patents, trademarks, engineering drawings and current orders. The companies expect to close the transaction March 23.

Founded in 1924 as The Youngstown Steel Door Co., Youngstown, Ohio-based YSD generates annual sales of $15 million. In addition to car doors and sides, the company supplies hopper car outlet gates, box-car roofs, auto-rack side screening and roofs, and stamped grating products.

"YSD compliments our Prime Railway Services division both geographically and in terms of product mix," said Global Railway President and Chief Executive Officer Mike Kohut in a prepared statement, adding that Canadian-based Prime markets rail-car doors and replacement parts mostly to Canadian freight carriers, while YSD supplies car doors and parts primarily for new cars sold to OEMs and U.S.-based freight carriers.

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More News from 3/12/2004