Loram Maintenance of Way, based in the US, has announced the finalisation of a deal to buy Aurizon’s rail grinding business.
The acquisition means Loram will increase its number of Australian rail grinding service customers by four, including the addition of all mainline and turnout rail grinding for Aurizon Network.
“This acquisition is a step-change in Loram’s continued expansion as a respected leader in railway maintenance contract service operations globally,” Loram’s president and CEO Phil Homan said.
“Loram will now deliver its unrivalled customer service to Australasia and Southeast Asia with the strength of our experienced Australian leadership team from its base in Brisbane.”
Loram is the original equipment manufacturer of the fleet of rail grinders it acquires through the Aurizon deal, a factor it says puts it at an unmatched level of technical expertise operating its advanced equipment for the business’ customers.
“Loram has over 50 years of experience providing innovative solutions for the unique challenges faced by the Australian rail industry, and we are honoured to deepen our longstanding relationship with Aurizon and our other Australian customers,” Loram’s local managing director Stephen Mannix said.
“This Acquisition has presented Loram with a strong team who share our commitment to safety and quality. Together, we will meet the challenges of the substantial growth of the Australian rail industry and propel the advancements of our Customers over the coming decades.”