notes UPDATE: This sale was completed on 9 November 2012.
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Network Rail to complete the sale of heavy plant business
date Tuesday 6 Nov 2012 source Network Rail type Press release
Network Rail Infrastructure Ltd intends this week to complete the sale of Network Rail (NDS-Plant) Ltd, a market leader in the provision of specialist heavy plant and equipment to Britain’s rail market, to TXM Plant.
Network Rail (NDS-Plant) Ltd was formed as a subsidiary of Network Rail in November 2011 following the purchase of the rail division of Hydrex Equipment (UK) Ltd from its administrators. The purchase brought to an end an extended period of uncertainty for Hydrex’s employees, customers and suppliers, while providing continuity of business for the supply of specialist heavy plant to the industry.
Network Rail received consent from the Office for Rail Regulation to be involved in the ownership of road-rail vehicles for use by third parties; however the intention was always that this was to be a temporary measure.
Network Rail announced in February 2012 that it intended to sell NDS-Plant through an open tender process, which is due to be completed before the end of the week. The sale sees the transfer of all associated assets, securing 377 jobs.
Martin Elwood, Director of Network Rail’s National Delivery Service, said: “The successful sale of the NDS-Plant business will enable Network Rail Infrastructure Ltd to safeguard hundreds of jobs and will allow essential rail maintenance, enhancement and renewal programmes across the rail network to continue without disruption.”
Network Rail has kept the ORR and RMT informed about the progress of the sale throughout.
