Thursday 17 Nov 2011
NETWORK RAIL PURCHASE OF HYDREX RAIL
- Region & Route:
- National
Network Rail Infrastructure Limited has today completed purchase of the assets of the rail division of Hydrex Equipment (UK) Ltd from its administrators, KPMG LLP. The purchase includes a transfer of employment for all rail division staff.
Hydrex is the largest provider of road-rail vehicles to the rail industry and a key supplier to Network Rail and its infrastructure contractors. Network Rail’s purchase of the rail division of Hydrex business brings to an end an extended period of uncertainty for Hydrex’s employees, customers and suppliers, while providing continuity of business for the supply of heavy plant to the industry.
Martin Elwood, director of Network Rail’s National Delivery Service, said: “This is not a step that Network Rail has taken lightly. The purchase of Hydrex’s rail division has secured hundreds of jobs while making sure we can deliver as planned our programme of maintenance, renewals and enhancements across the rail network.
“Our priority in making this purchase is to ensure continuity of works. Once we have set in place a successful transition we will seek input from across the industry, including other on-track plant suppliers, about any impact on the market place.”
Notes to editors
The purchase of the rail division of Hydrex will see ownership of over 300 road-rail vehicles transferred to a new subsidiary of Network Rail, along with the transfer of employment of 531 associated employees. The new subsidiary is called Network Rail (NDS-Plant) Ltd.
Network Rail has agreed the purchase with the Office for Rail Regulation. Discussions have also been held with the Rail Plant Association, Network Rail’s contractors, other existing Hydrex customers and the trades unions.
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