On August 2, 2010, Progress Rail Services announced the completion of its purchase of Electro-Motive Diesel (EMD) for US$820 million in cash, plus a networking capital adjustment subject to post-closing finalization, which is currently estimated at approximately US$108 million, from Berkshire Partners LLC and Greenbriar Equity Group LLC. Effective with the closing of the acquisition, EMD is now a whollyowned subsidiary of Progress Rail. Progress Rail is a wholly-owned subsidiary of Caterpillar Inc. (NYSE: CAT).
Electro-Motive Diesel, headquartered in La Grange, IL, was founded in 1922 and is one of two U.S. original equipment manufacturers of diesel-electric locomotives.
Progress Rail Services, headquartered in Albertville, Ala., is a wholly-owned subsidiary of Caterpillar Inc. The company is a leading supplier of remanufactured locomotive and railcar products and services to the railroad industry.
Further information is found on Caterpillar's website.