CTM, which manufactures specialty track products for both freight and transit customers, has facilities in Cleveland, Ohio; Reading, Pennsylvania; and Memphis, Tennessee; and is a supplier to Class 1 and transit railways.
Vossloh announced the sale of CTM in its third quarter results released on October 25, but Progress Rail was not announced as the buyer until October 30.
CTM’s track portfolio includes panelised turnouts and crossings, special track assemblies, switch points, frogs and crossing diamonds, brace and plating systems, rail joints and guard rails, and will complement Progress Rail’s current track products.
The transaction is anticipated to close in early November.
