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Meridian Rail born from ABC-NACO assets. (North America).

The private equity firms Three Cities Research, Inc. (TCR), New York, and Cerebus have purchased all the former U. S., European and Chinese operating assets of ABC-NACO, Lombard, Illinois, and formed a new company, Meridian Rail Corp., Lombard.

According to Meridian Rail, as a result of the investments made by TCR and Cerebus and the effects of the reorganization proceedings, the new company begins business with a strong balance sheet and financing capacity to support its future.

Meridian Rail has organized itself into five businesses: Meridian Rail Services, Meridian Rail Track Products, Meridian Rail Products, Meridian Rail Europe and Meridian Rail Arms. These businesses will focus on designing, engineering and manufacturing freight railcar, locomotive and passenger suspension systems, coupler systems, wheels and specialty track products.

According to Meridian Rail, "These individual businesses are creating cost-effective solutions to answer our customers' competitive needs. Our management teams have been working to ensure a smooth transition for our customers, suppliers and employees."

As previously announced, ABC-NACO and its U.S. subsidiaries voluntarily filed for reorganization under Chapter 11.
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Comment:Meridian Rail born from ABC-NACO assets. (North America).
Publication:Modern Casting
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 1, 2002
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