Rail News

Loram and GREX Announce Merger Agreement

Loram Maintenance of Way, Inc. (Loram) based in Minneapolis and Georgetown Rail Equipment Company (GREX) based in Georgetown, Texas recently announced that they have completed a definitive merger agreement under which Loram will acquire all outstanding shares of GREX.

Loram Railroad Maintenance
Minneapolis–Saint Paul © Loram

Phil Homan, CEO of Loram, said:

“GREX and Loram share a passion for innovation and customer service. The combined strength of this partnership presents a real opportunity to maximize value for our customers, while at the same time extending our mission of delivering advanced equipment and unrivaled customer service”

“The merger with GREX—a market leader in material handling and track inspection technologies—strengthens our core business and enhances our strategic capabilities for serving the global railway infrastructure market.”

Chris Aadnesen, GREX Executive Chairman, commented:

“Combining forces with Loram allows a continuation of GREX’s vision of developing innovative solutions to meet real world problems”

“GREX is recognized throughout the rail industry for its innovative technology, unmatched productivity, and providing superior value. We are confident our mission will continue, and remain a point of pride for the GREX family and its enduring legacy.”

GREX will continue to operate out of the Georgetown, Texas facilities. The transaction is pending closing conditions and is expected to be finalized in mid-February.

About Loram Maintenance of Way, Inc.

Since 1954, Loram has been providing Heavy Haul, Transits, and Commuter railways with equipment and services that exceed our customers’ expectations in terms of Speed, Performance, and Reliability. Loram is a leading global supplier of Rail Grinding, Ballast Maintenance, and Friction Management equipment and services with North America offices in Minneapolis and Chicago and international offices in Derby, England and Perth, Australia.

About GREX

Founded in 1993, Georgetown Rail Equipment Company is a private corporation that creates innovative solutions to help the railroad industry. Our products in material handling and inspection solutions stand out among the rest as technologically advanced, safer, more efficient and more productive than traditional methods. GREX works with customers across the globe to deliver custom solutions designed around their specific needs.

Original article © Loram.

News categories

14 Feb 2018
Entire Baltimore Metro System Closes for Emergency ...
06 Feb 2018
James Corden Shows Jamie Dornan His Model Train Se ...
02 Feb 2018
BNSF Railway Publishes $3.3 Billion 2018 Spending ...
16 Oct 2017
Flexfab: A Global Leader in the Design and Manufac ...
02 Oct 2017
Sound Transit Moves Forward With Light Rail Extens ...
15 Sep 2017
This Year at Railway Interchange 2017 ...
14 Jul 2017
U.S. DOT Advances Rail Plans for Northeast Corrido ...
13 Jul 2017
NJ Transit Adopts Fiscal Year 2018 Operating Budge ...
Subscribe to Railway-News
Get the latest contract alerts and Railway News emailed directly to your inbox.

We respect your privacy and take protecting it seriously.