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Global Railway sells YSD's Ohio plant


Today, Global Railway Industries Ltd. announced subsidiary YSD Industries (2004) Inc. has closed the sale of its land and building in Youngstown, Ohio, for $1.25 million. The sale includes a lease-back provision, expiring March 15, so YSD can temporarily store equipment and inventory at the facility.

In October, Global Railway announced plans to close the YSD plant on or about Jan. 12 because of mounting losses. Founded in 1924 as The Youngstown Steel Door Co., YSD produced rail-car doors and sides, hopper-car outlet gates, box-car roofs, auto-rack side screening and roofs, and stamped grating products.

Through subsidiaries Rafna Industries Ltd., G&B Specialties Inc., Bach-Simpson Corp. and Prime Railway Services, Global Railway supplies event recorder monitoring/control systems, train speedometers, track and signal components, and rail gear.

Contact Progressive Railroading editorial staff.

More News from 12/6/2005