Thursday, June 18, 2009

R.J. Corman completes Railpower Corp. acquisition

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Nicholasville, Ky.-based R.J. Corman Railroad Group, LLC Thursday announced it had finalized its acquisitionof Railpower Technologies Corp., based in Brossard, Quebec, and its wholly owned U.S. subsidiary Railpower Hybrid Technologies, based in Erie, Pa.

“We are pleased and honored to beable to continue the development and production of the Railpower Gen-Setlocomotives for the railroad industry,” said owner Rick Corman in a statement. “The combination of the R.J. Corman Railroad Group service orientation and the demonstrated technical leadership of the Railpower team will result in Gen-Set locomotives being designed and built by a company that operates railroads.”

“With the state-of-the-art technology on board the Railpower Gen-Set locomotives, we are excited about buildingthem for the future and appreciate all the support we received during theacquisition process,” said Bruce Greinke, executive vice president and chief operating officer for Railpower, LLC.