24 November 2017 Aus & New Zealand

Progress Rail To Acquire Downer Freight Rail

In a move to further complement its rolling stock services portfolio, Progress Rail, a Caterpillar company, has signed an agreement to acquire Downer EDI’s (ASX: DOW) freight rail business (“Downer Freight Rail”). Headquartered in North Ryde and with 15 maintenance facilities strategically located throughout Australia, Downer Freight Rail provides a full suite of rolling stock, aftermarket parts and services. Upon completion, the acquisition will significantly strengthen Progress Rail’s exist

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