Progress Rail
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Company type | Subsidiary |
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| Headquarters | , United States |
Number of locations | United States - 110 Mexico - 28 Australia - 23 UK - 5 Canada - 4 Brazil - 2 Italy - 1 Germany - 1 |
Area served | Worldwide |
Key people | John Newman (CEO) |
| Products | List
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| Services | List
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| Parent | Caterpillar Inc. |
| Divisions | Infrastructure Rolling Stock |
| Subsidiaries | List
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| Website | progressrail.com |
| Footnotes / references [1][2][3] | |
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Progress Rail Services Corporation (reporting mark PRLX), a fully owned subsidiary of Caterpillar since 2006, is a supplier of railroad and transit system products and services headquartered in Albertville, Alabama.[1] Founded as a recycling company in 1982, Progress Rail has increased the number of its product and service offerings over time to become one of the largest integrated and diversified suppliers of railroad and transit system products and services in North America.[4]
Progress Rail markets products and services worldwide, maintaining 110 facilities in the United States, 34 in Mexico, 23 in Australia,[5] five in the UK, four in Canada, two in Brazil, and one in Italy and Germany.[1][2] Progress Rail is organized into two divisions: Infrastructure and Rolling Stock.[3]
History
"Progress Rail" traces its roots to a recycling company founded in Albertville, Alabama, United States in 1982.[4] With the merger of Progress Rail's owner Florida Progress Corporation and Carolina Power & Light Company in 2000, it became owned by the new entity Progress Energy.
In February 2005, Progress Energy announced it was selling Progress Rail to One Equity Partners for $405 million.[6] The sale closed on March 28, 2005, with Progress Rail becoming a separate private company.[7]
On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1 billion in cash, stock and debt.[8] The acquisition by Caterpillar was announced as part of its long-term strategy, Vision 2020.
In July 2011, the company announced it was to assemble EMD locomotives at a plant leased in the state of Minas Gerais, Brazil.[9][10]
Acquisitions
On May 24, 2008, Caterpillar agreed to acquire all of the capital stock of MGE - Equipamentos e Serviços Ferroviários Ltda., a São Paulo, Brazil-based locomotive component and transit car services company, to become part of Caterpillar's Progress Rail Services Corporation. The acquisition of MGE marked Progress Rail's first entry into the South American market.[11]
On June 1, 2010, Caterpillar announced Progress Rail would buy Electro-Motive Diesel from Berkshire Partners LLC and Greenbriar Equity Group LLC for US$820 million.[12] The purchase was completed on August 2, 2010, making Electro-Motive Diesel a wholly owned subsidiary of Progress Rail Services Corporation.[13]
During 2010, Progress Rail acquired two makers of signal equipment, Coast to Coast Signal Engineering and C&S Signaling, as well as a General Electric subsidiary involved in the signal industry; now Progress Rail Inspection & Information Systems.[14]
In February 2012 Progress Rail permanently closed the EMD London, Ontario plant after labour dispute shuttered the manufacturing plant.[15] In 2019, Progress Rail acquired Cleveland Track Material, Inc. which was a subsidiary of Vossloh Cogifer.
Federal legal matters
During October 2013, Caterpillar announced that a federal criminal indictment had been secured against Progress Rail Services.[16] In 2017, the company pleaded guilty to the charges, including dumping parts into the ocean. A $5,000,000 fine was paid as well as $20,000,000 in restitution.[17]
Products
Locomotives
Progress Rail currently offers EMD freight, passenger, repowered and used locomotives.
Signals
Progress Rail's Signal Division makes grade crossing and wayside signals.
References
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- ^ a b c Page Module:Citation/CS1/styles.css has no content."Progress Rail - Company Overview". 2010. Archived from the original on April 5, 2009.
Progress Rail Services Corporation, a subsidiary of Caterpillar Inc.,...
- ^ a b Page Module:Citation/CS1/styles.css has no content."MGE Transportes". mgetransportes.com. MGE Equipamentos & Serviços Ferroviários Ltda. 2009. Archived from the original on July 13, 2010. Retrieved October 24, 2010.
...two factories: one in Diadema and another in Hortolandia, both in the state of Sao Paulo.
- ^ a b Page Module:Citation/CS1/styles.css has no content."The Power of Progress at Work". progressrail.com. Progress Rail Services Corporation. 2010. Archived from the original (Adobe ShockWave flash video - .swf) on November 28, 2010. Retrieved October 24, 2010.
Two divisions....Locomotive & Railcar Services....Engineering & Track Services...
- ^ a b Page Module:Citation/CS1/styles.css has no content."Progress Rail Services - Services - Recycling". progressrail.com. Progress Rail Services Corporation. 2010. Archived from the original on November 28, 2010. Retrieved October 24, 2010.
Progress Rail started out as a recycling company in the early 1980s, and although we have expanded our line of product and service offerings, recycling is still the heartbeat of our company.
- ^ Page Module:Citation/CS1/styles.css has no content."Committed to Australia". Progress Rail. Retrieved January 30, 2026.
- ^ Progress Energy announces sale of rail services subsidiary, Progress Energy, 18 February 2005
- ^ Progress Energy closes on sale of rail subsidiary , Progress Energy, 28 March 2005
- ^ Page Module:Citation/CS1/styles.css has no content."Caterpillar to acquire Progress Rail". PRdomain (Press release). May 17, 2006. Archived from the original on June 16, 2011.
- ^ Page Module:Citation/CS1/styles.css has no content."Progress Rail announces Brazilian locomotive plant", www.railwaygazette.com, Railway Gazette International, July 27, 2011, archived from the original on October 3, 2012, retrieved July 27, 2011
- ^ Page Module:Citation/CS1/styles.css has no content."Caterpillar expands diesel-electric locomotive manufacturing plant in Brazil", MercoPress, July 25, 2011
- ^ Page Module:Citation/CS1/styles.css has no content."Caterpillar Announces Acquisition of Leading Brazilian Locomotive Component and Transit Car Services Company" (Press release). Caterpillar, Inc. June 24, 2008. Retrieved October 24, 2010.
MGE Equipamentos & Servicos Ferroviarios Ltda. will become part of Caterpillar's Progress Rail Services Division
{{cite press release}}: CS1 maint: deprecated archival service (link) - ^ Page Module:Citation/CS1/styles.css has no content."Progress Rail Services - Progress Rail Acquires Electro-Motive Diesel". progressrail.com. Progress Rail Services Corporation. June 1, 2010. Archived from the original on November 28, 2010. Retrieved October 24, 2010.
Progress Rail has signed a definitive agreement to purchase Electro-Motive Diesel (EMD) for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC. Upon completion of the transaction, EMD will become a wholly owned subsidiary of Progress Rail.
- ^ Page Module:Citation/CS1/styles.css has no content."Progress Rail Services Finalizes Electro-Motive Diesel Acquisition" (PDF) (Press release). Caterpillar. August 2, 2010. Archived from the original (PDF) on March 6, 2012. Retrieved October 29, 2010.
Progress Rail Services announced today it has finalized the purchase of Electro-Motive Diesel...
- ^ Page Module:Citation/CS1/styles.css has no content."Progress Rail buys Coast to Coast Signal Engineering". Railway Gazette International. December 22, 2010. Archived from the original on December 17, 2018. Retrieved December 23, 2010.
- ^ Progress Rail closes EMD plant in London Railway Gazette
- ^ Page Module:Citation/CS1/styles.css has no content.Hagerty, James R. (November 2013). "U.S. Prosecutors Investigate Caterpillar Unit". The Wall Street Journal. Retrieved January 5, 2015.
- ^ Page Module:Citation/CS1/styles.css has no content."Caterpillar Railcar Unit to Plead Guilty and Pay $5 Million Fine for Dumping Parts -- Update". Fox Business. December 7, 2017.
External links
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