Completion of the asset purchase was announced by Corman, the Nicholasville, Ky.-based holding company that offers short line, railroad construction, warehousing, equipment rental, and derailment services to the industry.
Company owner Rick Corman said the firm was pleased to be able to continue to develop and produce the Railpower Gen-Set locomotives for the railroad industry. "The combination of the R.J. Corman Railroad Group service orientation and the demonstrated technical leadership of the Railpower team will result in Gen-Set locomotives being designed and built by a company that operates railroads," he said.
Gen-Set locomotives are built with multiple smaller engines compared to conventional new locomotives that use one large engine. The Gen-Set units can result in dramatic fuel savings and have environmental benefits as well. Railpower customers have more than 100 Gen-Set locomotives in operation today.