December 28, 2014 12:28 PM ET

Trading Companies and Distributors

Company Overview of Progress Rail Services Corporation

Company Overview

Progress Rail Services Corporation supplies railroad and transit system products and services to the rail industry worldwide. It offers solutions and new replacement original equipment manufacturer parts for locomotive, marine, and power generation products; freight car products, such as freight/tank car components, new and used cars, wheels, axles, and bearings; freight, passenger, repowered, and used locomotives; maintenance of way equipment to railroads, transit and short lines, and contractors; and power products. The company also offers rail steel, as well as other track materials, such as, tie plates, gauge rods, joint bars, lockwashers, rail anchors, bumping posts, track spikes, compr...

1600 Progress Drive

P.O. Box 1037

Albertville, AL 35950

United States

Founded in 1982

3,691 Employees

Phone:

256-593-1260

Fax:

256-593-1249

Key Executives for Progress Rail Services Corporation

Founder
Age: 57
Chief Financial Officer and Senior Vice President
Senior Vice President of Engineering & Track Services Business Unit
Age: 58
Vice President
Age: 63
Senior Vice President of International Marketing
Age: 60
Compensation as of Fiscal Year 2014.

Progress Rail Services Corporation Key Developments

Progress Rail Services Corporation Presents at High Horsepower Summit 2013, Sep-17-2013 09:15 AM

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

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.

Similar Private Companies By Industry

Company Name Region
Safety Source, Inc. United States
Capitol Scientific, Inc. United States
Global Automotive Systems, LLC United States
The Palmer-Donavin Manufacturing Company United States
KPM Exceptional, LLC United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 1, 2014
Pacific Rail Engineering Pty Ltd., Track Business
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Progress Rail Services Corporation, please visit www.progressrail.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.