Ontario based pension investor Omers Private Equity has acquired Nordco from The Riverside Company, which has owned the track maintenance equipment manufacturer since 2003. Financing has been provided by GE Capital, Allied Capital and Omers Administration Corp, but terms have not been disclosed. Nordco has plants in Wisconsin and Ontario, and group companies include Dapco Industries, Nordco Rail Services, Shuttlewagon and JER Overhaul.
IBM opened its Global Rail Innovation Center in Beijing on June 11, intending to introduce intelligent technology and data aggregation from across its businesses to the rail sector.
