Progress Rail Services Corp., a Caterpillar company, on Sept. 28, 2015 entered into a definitive agreement to purchase Rail Product Solutions, Inc. (RPS) from Amsted Rail Company, Inc. RPS is a leading North America provider of track fastening products and integrated fastening systems.
“This acquisition shows our continuing commitment to grow our business and expand our product and service offerings for our customers,” said Progress Rail President and CEO Billy Ainsworth. “RPS is a leader in track fastening systems, and I am proud to have them join the Progress Rail and Caterpillar team. The RPS product line provides fundamental components for rail infrastructure, playing a crucial role in enhancing reliability and minimizing track downtime. For more than 90 years, RPS has built a reputation of delivering a best-in-class product offering that is highly valued by customers.”
“Our focus on high quality products and dependable service has enabled Progress Rail to be a preferred supplier in the rail industry,” added Progress Rail Engineering and Track Services Senior Vice President Dave Roeder. “The RPS acquisition expands our portfolio of track related products and allows us to provide more comprehensive solutions to our customers. RPS is a good strategic fit, and a good cultural fit, as their team shares the same passion for customer service and satisfaction as Progress Rail.”
The acquisition is anticipated to close once regulatory approvals are received.