LORAM Acquires UK Rolling Stock Specialists RVEL
LORAM Maintenance of the Way Inc. (LORAM) have acquired rolling stock engineering and operating experts RVEL – a major player in the UK rail industry, who are based in Derby.
LORAM Maintenance of the Way Inc.
Established in 1954, Loram is a leading global company in rail-head treatment and rolling stock engineering services. Based in Hamel, Minnesota USA, Loram is looking to grow its customer base throughout Europe and is working to obtain a stronger presence in the UK.
Joe Carlin, Vice President of OEM Operations at Loram, said:
“We are delighted to have completed our acquisition of RVEL; this brings to fruition our plans to establish Loram UK Limited as the UK’s leading provider of rail head treatment, rolling stock engineering and bespoke train operation services. Loram’s investment in Derby shows our commitment to existing customers in the UK and will form a platform for us to support and expand the services we offer customers across Europe.”
“We will soon start operating our first trains under the Loram brand from Derby and later this year the first of three new Loram Rail Grinders for Network Rail will arrive in the UK. We also intend to accelerate the development of Derby as our European hub as we look to increase market share across the continent.”
Rolling stock and Engineering Services UK
Loram UK Limited will offer a sizeable portfolio of rail expertise to customers as it straightens up its business, branding and marketing strategies, in line with those of its chief US company.
The amalgamation also requires a restructure of the Loram UK board; Phil Swallow now becomes Senior Executive (Quality and Diversity), Rupert Brennan Brown is retained to advise on Loram stakeholder relations, and, following his appointment as Chair of a major NHS mental health trust, David Rogers leaves the business.
Leading the recently formed Loram UK board as Managing Director is Andy Lynch. Mr Lynch is supported by Commercial Director Andy Houghton and Operations and Safety Director, Gary Stewart. Joe Carlin and Pete Erwin are also board members.
Joe Carlin added:
“The Board of Loram would like to thank David, Phil and Rupert for their significant contributions to the company over recent years. I welcome Phil and Rupert to their new roles within the Loram family; and thank David for his contribution to the business, as he moves into the health sector.”
“Loram is proud to invest in the UK supply chain, and Andy and his team have been tasked with contributing to industry-wide initiatives being led by the Rail Supply Group, Rail Freight Group and National Skills Academy for Rail, as well as the Rail Forum East Midlands”.