Progress Rail

"Progress Rail" traces its roots to a recycling company founded in Albertville, Alabama, United States in 1982.

With the merger of Progress Rail's owner Florida Progress Corporation and Carolina Power & Light Company in 2000, it became owned by the new entity Progress Energy.

File:Progress rail serv logo.svg

In February 2005, Progress Energy announced it was selling Progress Rail to One Equity Partners for $405 million.[http://www.progress-energy.com/aboutus/news/article.asp?id=11262 Progress Energy announces sale of rail services subsidiary], Progress Energy, 18 February 2005 The sale closed on March 28, 2005, with Progress Rail becoming a separate private company.[http://www.progress-energy.com/aboutus/news/article.asp?id=11462 Progress Energy closes on sale of rail subsidiary ], Progress Energy, 28 March 2005

On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1 billion in cash, stock and debt.{{cite press release|url=http://www.prdomain.com/companies/C/Caterpillar/newsreleases/200651732564.htm|title=Caterpillar to acquire Progress Rail|archive-url=https://web.archive.org/web/20110616195724/http://www.prdomain.com/companies/C/Caterpillar/newsreleases/200651732564.htm |archive-date=2011-06-16|website=PRdomain|url-status=usurped|date=17 May 2006}} 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.{{citation| url =http://www.railwaygazette.com/index.php?id=44&no_cache=1&tx_ttnews%5Btt_news%5D=13704&cHash=640110ffe1| title =Progress Rail announces Brazilian locomotive plant| date =27 July 2011| work =www.railwaygazette.com| publisher =Railway Gazette International| access-date =27 July 2011| archive-date =3 October 2012| archive-url =https://web.archive.org/web/20121003200556/http://www.railwaygazette.com/index.php?id=44&no_cache=1&tx_ttnews%5Btt_news%5D=13704&cHash=640110ffe1| url-status =dead}}{{citation|url=http://en.mercopress.com/2011/07/25/caterpillar-expands-diesel-electric-locomotive-manufacturing-plant-in-brazil| title =Caterpillar expands diesel-electric locomotive manufacturing plant in Brazil| date =25 July 2011| work= MercoPress}}

File:NS_4004_Progress_Rail_PR43C_at_Anniston_Alabama_2014-03-21_02-27.JPG

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.{{cite press release

|publisher = Caterpillar, Inc

|date = 2008-06-24

|title = Caterpillar Announces Acquisition of Leading Brazilian Locomotive Component and Transit Car Services Company

|url = http://phx.corporate-ir.net/phoenix.zhtml?c=92466&p=irol-newsArticle&ID=1168906&highlight=

|access-date = 2010-10-24

|archive-date = 2013-02-21

|archive-url = https://archive.today/20130221101639/http://phx.corporate-ir.net/phoenix.zhtml?c=92466&p=irol-newsArticle&ID=1168906&highlight=

|quote = MGE Equipamentos & Servicos Ferroviarios Ltda. will become part of Caterpillar's Progress Rail Services Division

|url-status = dead

}}

On June 1, 2010, Caterpillar announced Progress Rail would buy Electro-Motive Diesel from Berkshire Partners LLC and Greenbriar Equity Group LLC for US$820 million.{{cite web

|url = http://www.progressrail.com/news-electro-motive-diesel.asp

|title = Progress Rail Services - Progress Rail Acquires Electro-Motive Diesel

|date = 2010-06-01

|work = progressrail.com

|publisher = Progress Rail Services Corporation

|archive-url = https://web.archive.org/web/20101128084407/http://progressrail.com/news-electro-motive-diesel.asp

|archive-date = 2010-11-28

|access-date = 2010-10-24

|quote = Progress Rail has signed a definitive agreement to purchase Electro-Motive Diesel (EMD) for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC. Upon completion of the transaction, EMD will become a wholly owned subsidiary of Progress Rail.

|url-status = dead

}} The purchase was completed on August 2, 2010, making Electro-Motive Diesel a wholly owned subsidiary of Progress Rail Services Corporation.{{cite press release

|publisher = Caterpillar

|date = 2010-08-02

|title = Progress Rail Services Finalizes Electro-Motive Diesel Acquisition

|url = http://www.cat.com/cda/files/2420062/7/080210+Progress+Rail+Services+Finalizes+Electro-Motive+Diesel+Acquisition.pdf

|access-date = 2010-10-29

|archive-date = 2012-03-06

|archive-url = https://web.archive.org/web/20120306060019/http://www.cat.com/cda/files/2420062/7/080210+Progress+Rail+Services+Finalizes+Electro-Motive+Diesel+Acquisition.pdf

|quote = Progress Rail Services announced today it has finalized the purchase of Electro-Motive Diesel...

|url-status = dead

}}

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; now Progress Rail Inspection & Information Systems.{{cite web | url=http://www.railwaygazette.com/index.php?id=44&no_cache=1&tx_ttnews[tt_news]=12556&cHash=8967e69f2a | title=Progress Rail buys Coast to Coast Signal Engineering | access-date=23 December 2010 | date=22 December 2010 | publisher=Railway Gazette International | archive-date=17 December 2018 | archive-url=https://web.archive.org/web/20181217203732/https://www.railwaygazette.com/index.php?id=44&no_cache=1&tx_ttnews%5Btt_news%5D=12556&cHash=8967e69f2a | url-status=dead }}

In February 2012 Progress Rail permanently closed the EMD London, Ontario plant after labour dispute shuttered the manufacturing plant.[https://archive.today/20130201013514/http://www.railwaygazette.com/nc/news/single-view/view/progress-rail-closes-emd-plant-in-london/archiv/2012/02.html Progress Rail closes EMD plant in London] Railway Gazette

In 2019, Progress Rail acquired Cleveland Track Material, Inc. which was a subsidiary of Vossloh Cogifer.

During October 2013, Caterpillar announced that a federal criminal indictment had been secured against Progress Rail Services.{{cite news | url=https://www.wsj.com/articles/SB10001424052702304527504579172123767258440 | title=U.S. Prosecutors Investigate Caterpillar Unit | access-date=January 5, 2015 | newspaper=The Wall Street Journal| date=November 2013 | last1=Hagerty | first1=James R. }} In 2017, the company pleaded guilty to the charges, including dumping parts into the ocean. A $5,000,000 fine was paid as well as $20,000,000 in restitution.{{Cite web|url=https://www.foxbusiness.com/features/caterpillar-railcar-unit-to-plead-guilty-and-pay-5-million-fine-for-dumping-parts-update|title = Caterpillar Railcar Unit to Plead Guilty and Pay $5 Million Fine for Dumping Parts -- Update| website=Fox Business |date = 7 December 2017}}

File:Tasrail-TR16-20160106-001.jpg locomotives in Tasmania.]]

Progress Rail currently offers EMD freight, passenger, repowered and used locomotives.

• Progress Rail PR22L
• Progress Rail PR30C
• Progress Rail PR43C

Progress Rail's Signal Division makes grade crossing and wayside signals.

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{{Progress Rail Services}}

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Category:Caterpillar Inc. subsidiaries

Category:Companies based in Albertville, Alabama

Category:Manufacturing companies established in 1982

Category:Locomotive manufacturers of the United States

Category:Railway signalling manufacturers

Category:Rail infrastructure manufacturers

Category:1982 establishments in Alabama