Company News, 2007-08-16, 11:00 AM
ThyssenKrupp Services’ Track Equipment unit now in the USA
ThyssenKrupp Services, the services segment of the ThyssenKrupp Group, is branching out into the US market for track system solutions: a new company MRT Track and Services Co, Inc. has now started business in Bloomfield, New Jersey.
The partners of the new venture are the Services’ company ThyssenKrupp GfT Gleistechnik GmbH, Essen, Germany, and the US company Atlantic Track and Turnout Corp., Bloomfield. Each holds a 50-percent stake. The business will be run by Bill Roan, President, and Amir Joneidi, Vice President.
The target group of MRT Track and Services is the growing US market for Mass Rapid Transit (metros, streetcars, airport connections) and hence the name of the venture. “For us, this joint venture spells a structured access into the US market,” says Harald Bogedein, General Manager of ThyssenKrupp GfT Gleistechnik. “MRT Track and Services is an American company with American products for American customers. With this local presence, the high standards of engineering and the first-class service we are expecting a large level of acceptance and success. Within the short- to medium-term we are aiming for sales of double-digit million.” Adds Export Manager Mario Serafidis: “The integration of our own systems expertise will proceed step by step, adequately and adapted to the local market.”
The product portfolio of MRT Track and Services embraces such permanent way materials as rails, rail switches/components, ties, and fastening systems. Another noteworthy element of the range: crane rail products of all kinds. Complementing the portfolio are maintenance and upkeep services, equipment installation/removal and project management services as well as test reports.
The new company will be able to make use of the entire infrastructure of the US partner Atlantic Track and Turnout (75 employees, $50 million sales in 2006). Founded in 1924, this well-known company is also regarded as a specialist in track system solutions. With ten nationwide sales, production and warehousing locations it has a highly stable and longstanding supplier base. It biggest customers, especially on the US East Coast, include rail operators, heavy engineering, mining, building contractors, (sub)urban rail and port operators. Its business model is similar to that of ThyssenKrupp GfT Gleistechnik.