Trading Companies and Distributors
Company Overview of Progress Rail Services Corporation
Progress Rail Services Corporation provides rail and transit products and services in North America. It offers engineering and track products, such as rails, relay rails, track work products, maintenance-of-way equipment, signals and communication products, mobile welders, railroad mow equipment, and vegetation control equipment for class 1 and short line railroads, railroad contractors, and transit authorities and industries in North America; and locomotive and railcar products, such as axles, bearings, parts, wheels/wheel sets, traction motors, locomotives, railcars, couplers, side frames, bolsters, and traction motors for Class 1, short line, and transit railroad companies, as well as pri...
1600 Progress Drive
P.O. Box 1037
Albertville, AL 35950
Founded in 1982
Key Executives for Progress Rail Services Corporation
Chief Financial Officer and Senior Vice President
Chief Operating Officer and Senior Vice President
Senior Vice President of Engineering & Track Services Business Unit
Compensation as of Fiscal Year 2013.
Progress Rail Services Corporation Key Developments
Progress Rail Services Corporation Presents at High Horsepower Summit 2013, Sep-17-2013 09:15 AM
Sep 17 13
Progress Rail Services Corporation Presents at High Horsepower Summit 2013, Sep-17-2013 09:15 AM. Venue: McCormick Place Lakeside Center, Chicago, Illinois, United States. Speakers: William P. Ainsworth, Founder, Chief Executive Officer, President and Director.
Union Pacific Loses in Lawsuit over Derailments Against Progress Rail
Jun 26 13
Union Pacific failed in an effort to collect $5.1 million in damages from a railroad supplier related to Nebraska and Iowa derailments. The Omaha-based railroad alleged in a suit filed in U.S. District Court that Progress Rail, a Caterpillar subsidiary based in Albertville, Ala., that supplies products and services to the rail industry, was to blame for two U.P. derailments. The railroad sought to be paid damages: nearly $950,000 in one case and nearly $4.2 million in the other. The first part of the suit stems from 2007 after a U.P. train with 135 loaded coal cars, including one owned by a third party, derailed near DeWitt, Iowa. The second part relates to a 2010 incident when a U.P. train derailed near Martin Bay at Lake McConaughy. That train had 123 loaded cars, including a railcar owned by a third party. In each case, U.P. said its investigators determined that the train derailed because of the failure of an axle and that Progress Rail, which reconditions rail sets, mounted a roller bearing on the axle without properly inspecting it for corrosion pits or cracks, allowing the axle to fracture. U.P. alleged in the complaint originally filed in January 2010, and amended in September 2010 to add the Nebraska derailment, that if Progress Rail had properly removed the corrosion pits before mounting the roller bearing, the axle would not have failed and the derailment would not have occurred.
Progress Rail Services Corporation Concludes Agreement with the Canadian Auto Workers Union
Feb 28 12
Progress Rail Services Corporation announced that it has concluded an agreement with the Canadian Auto Workers union on terms of the orderly closure of Electro-Motive Canada's (EMC) London production operations. The severance package provided for under the agreement significantly exceeds the requirements of Ontario employment law. The law requires only one week's pay per year of service and does not provide severance for employees with less than five years tenure. Ontario law also caps severance at 26 weeks of service. In contrast, the company will provide severance payments to all bargaining unit employees equal to three weeks of regular pay per every year of service, with no cap imposed on them. Seventy-five EMC employees who would not otherwise be eligible under the law, will therefore receive severance benefits under the agreement. The company will issue severance payments and ratification bonuses within 15 days. Individual severance amounts will range from a low of about $13,000 (3 years service) to a high of about $148,000 (30 years service). All bargaining unit employees will receive a $1,500 lump sum ratification bonus plus limited company-paid healthcare benefits. The company also will complete funding of the employees' pension trust. EMC will make a payment to the union of $350,000 to fund settlement of all grievances, establish an adjustment program and cover representation costs for bargaining unit employees.
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