“GREX and Loram share a passion for innovation and customer service. The combined strength of this partnership presents a real opportunity to maximize value for our customers, while at the same time extending our mission of delivering advanced equipment and unrivaled customer service,” said Phil Homan, CEO of Loram. “The merger with GREX — a market leader in material handling and track inspection technologies — strengthens our core business and enhances our strategic capabilities for serving the global railway infrastructure market.”
“Combining forces with Loram allows a continuation of GREX’s vision of developing innovative solutions to meet real world problems,” said Chris Aadnesen, GREX Executive Chairman. “GREX is recognized throughout the rail industry for its innovative technology, unmatched productivity, and providing superior value. We are confident our mission will continue, and remain a point of pride for the GREX family and its enduring legacy.”
GREX will continue to operate out of its Texas facilities. The transaction is pending closing conditions and is expected to be finalized in mid-February.
— A Loram Maintenance of Way news release. Feb. 6, 2018.
