Through its Australian subsidiary, Loram Pty Ltd, Loram Maintenance of Way entered into a binding agreement to acquire all the assets of the rail grinding business of Aurizon Operations. Upon Completion, Loram will increase the number of Australian Customers to which it provides rail grinding services by four, including all mainline and turnout rail grinding for Aurizon Network Pty Ltd. Completion of the acquisition remains subject to certain conditions precedent.
“Loram’s continued global expansion as a respected leader in railway maintenance contract service operations is based on the principle that technology is global and service is local,” said Phil Homan, Loram’s President and CEO.
Loram is the equipment manufacturer of Aurizon’s entire fleet of rail grinders and has unmatched technical and operating expertise with its advanced equipment for Customers in numerous countries. The acquisition includes Loram’s newly built 120-stone RG419 which will be the most productive rail grinder in the Southern Hemisphere when it arrives later in 2019.
In addition to rail grinding, Loram delivers innovative solutions for ballast maintenance, material handling, friction management, and automated track inspection.