| Type | Private (subsidiary of Caterpillar Inc.) |
|---|---|
| Industry | Transportation |
| Founded | Albertville, Alabama, U.S. (1982) |
| Headquarters | Albertville, Alabama, U.S. |
| Number of locations | United States - 110 Mexico - 28 Canada - 4 Brazil - 2 |
| Area served | Worldwide |
| Key people | William P. Ainsworth, Chief Executive Officer |
| Products | Remanufactured locomotives and railcars Rail and other track materials Special trackwork Signals & communication products Rail welding equipment Remanufactured trackwork components Railroad MOW equipment Vegetation control equipment |
| Services | Rail and other track material sorting Track removal Signal & Communication design, installation and maintenance Mobile welding Equipment financing, leasing and rental Locomotive and railcar repair and refurbishment Recycling |
| Employees | 4,055 |
| Parent | Caterpillar Inc. |
| Divisions | Engineering & Track Services (ETS) Locomotive & Railcar Services (LRS) |
| Subsidiaries | Electro-Motive Diesel, Inc. Lincoln Industries MGE – Equipamentos e Servicos Ferroviarios Ltda Progress Rail Leasing Corporation |
| Website | progressrail.com |
| References: [1] [2] [3] | |
Progress Rail Services Corporation, a wholly owned subsidiary of Caterpillar Inc. since 2006, is a supplier of railroad and transit system products and services headquartered in Albertville, Alabama, United States.[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 and maintains 110 facilities in the United States, 34 in Mexico, four in Canada, and two in Brazil.[1][2] Progress Rail is organized into two divisions: Engineering & Track Services (ETS) and Locomotive & Railcar Services (LRS).[3]
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Progress Rail Services Corporation traces its roots to a recycling company founded in Albertville, Alabama, United States in 1982.[4]
Progress Rail became a division of Progress Energy in 2000 as a result of the merger of Florida Progress Corporation and Carolina Power & Light Company.
In February 2005, Progress Energy announced it was selling Progress Rail to One Equity Partners for $405 million.[5] The sale closed on March 28, 2005, with Progress Rail becoming a separate private company.[6]
On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1.0 billion in cash, stock and debt.[7] 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.[8][9]
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.[10]
On June 1, 2010, Caterpillar announced Progress Rail Services Corporation would buy Electro-Motive Diesel, Inc. from Berkshire Partners LLC and Greenbriar Equity Group LLC for US$820 million.[11] The purchase was completed on August 2, 2010, making Electro-Motive Diesel, Inc. a wholly owned subsidiary of Progress Rail Services Corporation.[12]
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.[13]
Progress Rail currently offers four models of locomotives:[14]
Progress Rail's Signal Division makes grade crossing and wayside signals under the name Lincoln Industries.
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