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GM Bails on Rail

12 January 2005

GM today announced the sale of its ElectroMotive division to an investor group led by Greenbriar and Berkshire Partners. Terms of the transaction will not be disclosed.

The sale agreement covers substantially all of the Electro-Motive businesses, including North American and international locomotives; power, marine and industrial products; the spare parts and parts rebuild business; and all of Electro-Motive’s locomotive maintenance contracts worldwide.

Since the early 1930s, Electro-Motive and its associates have produced more than 58,000 diesel-electric locomotives for customers in 73 countries. Electro-Motive diesel engines are used in over 100 countries worldwide.

January 12, 2005 in Vehicle Manufacturers | Permalink | Comments (0) | TrackBack (0)

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