Progress Rail, a Caterpillar company, has signed an agreement to acquire Vossloh North America’s (ETR: VOS) Cleveland Track Material (CTM) business. The proposed acquisition aligns with Progress Rail’s goal of profitable growth. With facilities located in Cleveland, Ohio; Reading, Pennsylvania; and Memphis, Tennessee; CTM has served as a supplier of special trackwork to Class I and transit railroads, delivering turnouts and crossings for North America since 1983. CTM manufactures specialty track
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