Progress Rail Services Company Description
If "progress" means moving forward, then Progress Rail Services keeps North America's railroad industry on the progress track. Progress Rail Services provides such services as rail and trackwork components, rail welding, rail flaw detection, grade-crossing safety devices, railcar and locomotive repair and leasing, new and reconditioned railcar and locomotive parts, and railcar dismantling. Progress Energy sold the company to One Equity Partners for $405 million in 2005. Then in 2006 One Equity Partners turned a healthy profit when it sold Progress Rail to Caterpillar for about $1 billion in cash, stock, and the assumption of long-term debt.
View the Comprehensive Company Description for Progress Rail Services
The Company Description provides a historical perspective of Progress Rail Services's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Progress Rail Services's evolution in the marketplace.
