Network Rail sells plant business to TXM Plant

Network Rail Infrastructure intends this week to complete the sale of its specialist plant and equipment division NDS-Plant to management buyout team TXM Plant.

NDS-Plant was formed as a subsidiary of Network Rail in November 2011 following the purchase of the rail division of Hydrex Equipment (UK) from its administrators.

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 to safeguard hundreds of jobs and will allow essential rail maintenance, enhancement and renewal programmes across the rail network to continue without disruption.”

Source : builderandengineer.co.uk

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