Wednesday, December 12, 2012

Progress Rail acquires welding company

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Progress Rail acquires welding company Progress Rail Services
Progress Rail Services, a wholly owned subsidiary of Caterpillar Inc., said Tuesday it has purchased mobile welding assets from RibbonWeld LLC, a rail welding company based in Springfield, Mo.

Progress Rail will acquire all mobile flash butt welding equipment and a continuous welded rail (CWR) train from RibbonWeld. The assets will become part of Progress Rail's rail welding subsidiary, Chemetron Railway Products, Inc.

"We are excited to acquire these assets from Ribbon Weld, as this will provide our customers with an even wider range of mobile welding equipment options from Progress Rail," said Progress Rail Senior Vice President of Engineering and Track Services Dave Roeder.

RibbonWeld will continue to provide in-plant rail welding services at its facility in Springfield, Mo., and will become a wholly owned subsidiary of Tie Yard of Omaha, Inc.