LORAM Maintenance of Way and Georgetown Rail Equipment Company (Grex) have completed a definitive merger agreement whereby Loram will acquire all outstanding shares of Grex.
Loram offers equipment and services for rail grinding, ballast maintenance and friction management. In recent years the company has made several strategic acquisitions to strengthen its product line, including Tangent Rail’s grinding division, Tranergy Corporation and HyGround Engineering. It has also acquiring a majority stake in British locomotive and rolling stock specialist Railway Vehicle Engineering.
Grex specialises in track inspection and material handling solutions. The company will retain its current branding and its base in Georgetown, Texas. Grex’s bridge monitoring arm, Sensr Structural Monitoring Solutions, is included in the acquisition, but will also remain under its own brand.
The transaction is pending closing conditions and is expected to be finalised in mid-February.
Post from : http://www.railjournal.com
Grex specialises in track inspection and material handling solutions. The company will retain its current branding and its base in Georgetown, Texas. Grex’s bridge monitoring arm, Sensr Structural Monitoring Solutions, is included in the acquisition, but will also remain under its own brand.
The transaction is pending closing conditions and is expected to be finalised in mid-February.
Post from : http://www.railjournal.com
