Global Rail Systems Acquired by Vossloh
MARLIN, Texas, Oct. 22 /PRNewswire/ — Global Rail Systems, Inc. (www.globalrailsystems.com), a Marlin, Texas-based railroad automation company, said today that Vossloh has acquired a majority interest in the company, effective October 16, 2009.
Vossloh is a global player in the rail technology markets. The Group (4,700 employees) focuses on its core businesses of rail infrastructure, rail vehicles, signalling systems and electric buses. During fiscal year 2008, the Group generated sales of more than euro 1.2 billion and an EBIT of euro 137.7 million.
The acquisition of Global Rail Systems complements Vossloh’s three other U.S.-owned companies: Vossloh Track Material (formerly Pohl Corp.), Cleveland Track Material, Inc., which manufacture track switches and Vossloh Fastening Systems America Corp., based in Chicago. Under terms of the agreement, Global’s management will remain in place.
Global Rail Founder Coy Beaman said, “This is a perfect marriage of track and train control technologies. We have the right resources to establish Vossloh in the U.S. signaling market and place Global Rail Systems’ products in Europe–greatly strengthening our position in the rail signaling market.”
Global Rail Systems CEO Tom Schlosser said, “I am excited about this partnership. For our customers, it means greater support and a wider range of excellent products. For GRS, we foresee increased market share and more aggressive R&D efforts.“
Global Rail Systems manufactures and supplies the railroad, transit and industrial railroad markets with advanced railroad technology products for mainline and yard switch control and automation, crossing warning systems, train detection, and advanced control and dispatching software.
SOURCE Global Rail Systems, Inc.