WATCO Companies announced the take-over of Millennium Rail Inc on May 1, with the rolling stock maintenance and repair business becoming a wholly-owned subsidiary of the Pittsburg, Kansas, based shortline operator and loco maintenance group.
MRI has eight workshops in the USA, where it undertakes general repairs and speciality wagon manufacturing.
‘By making this acquisition we are strengthening a very important part of our business that positions us well because of MRI’s capabilities in tank car repair. This will be significant with the future role of ethanol in rail transportation’, said Watco Chief Executive Rick Webb. ‘This is an acquisition that is a revenue growth platform.’
