Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View Current Digital Issue »


Rail News Home Rail Industry Trends


Rail News: Rail Industry Trends

Global Railway back in acquisition mode


Global Railway Industries Ltd. Sept. 24 announced plans to acquire all issued and outstanding stock of Prime Steel Inc., a Canadian manufacturer of rail-car doors and replacement parts.

Global Railway recently was approved for a loan to finance the transaction, which is expected to close on or before Oct. 7 pending the execution of formal agreements, and approval of Global Railway's directors and regulatory agencies.

Prime Steel's products would help diversify Global Railway's offerings, said President Mike Kohut in a prepared statement, adding that the company plans to pursue other acquisitions.

Calgary, Alberta-based Global Railway, which owns Rafna Industries Ltd. and Bach-Simpson Corp., in May 16 called off plans to purchase G&B Specialties Inc. because due diligence results weren't in line with company's expectations, Global Railway officials said at the time.

Contact Progressive Railroading editorial staff.

More News from 9/24/2002