PITTSBURGH Columbus Scrap
Material Inc. has assumed the lease and purchased some of the
equipment at Progress Rail Services Corp.s New Hope,
"We will continue to pursue new
industrial business in the area," a spokesman for the Columbus,
Miss.-based recycler said.
A spokeswoman for Albertville,
Ala.-headquartered Progress Rail, a wholly owned subsidiary of
Caterpillar Inc., said the company had no comment on why it
decided to divest one of its three Tennessee recycling
operations. The facility was not one of the companys
largest scrapyards, she noted.
Columbus Scrap will do some
scrap handling for Progress Rail at the facility on a
contractual basis, the spokeswoman added.
Progress Rail retained some
equipment and sold the balance to Columbus Scrap. The existing
work force and management will remain.