TCF Railco to acquire assets of ABC-NACO out of chapter 11. (Acquisitions).ABC-NACO, Inc., Lombard, Illinois Lombard, "The Lilac Village", is a suburb of Chicago in DuPage County, Illinois. The population was 42,322 at the 2000 census. The United States Census Bureau estimated the population in 2004 to be 42,975. , has agreed to sell its operating assets Operating Assets Another term for working capital. to TCF See Trenton Computer Festival. Railco Acquisition Corp. (TCF), for $7.5 million. The sale includes all of the U.S. operating assets of the firm's Rail Products, Track Products and Rail Services units as well as the stock of the firm's subsidiaries in Europe and joint ventures in China. Rail Products Group subsidiaries in Canada and Mexico were not included. TCF is owned by Three Cities The Three Cities is a collective description of the three fortified cities of Cospicua, Vittoriosa, and Senglea on the Island of Malta, which are enclosed by the massive line of fortification created by the Knights of St John, the Cottonera Lines. Funds III, LP, and affiliates (together, the "Three Cities Funds"). The Three Cities Funds are primarily engaged in making controlled investments in medium-sized companies. "We are very excited about our new partnership with ABC-NACO," said Willem de Vogel, a partner of the Three Cities Funds. "It offers very attractive products and services to the rail industry. We plan to provide financial and other resources to help the company improve and renew its operations and meet its long-term strategic objectives." "We believe TCF will bring financial stability to the company, allowing it to continue to provide outstanding products and services to the worldwide rail industry," said Vaughn W. Makary, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ABC-NACO. ABC-NACO announced in October that it and its U.S. subsidiaries had filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. |
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