LORAM, Maintenance of the Way Inc., (LORAM) has announced the completion of its acquisition of RVEL – the UK specialist rolling stock engineering and operating company, based in Derby at the heart of the UK rail industry.
LORAM is a global company based in Hamel, Minnesota USA. Founded in 1954 LORAM is a world leader in rail-head treatment and rolling-stock engineering services. LORAM now seeks to consolidate its presence in the UK and grow its customer base across Europe.
Joe Carlin, LORAM Vice President International Business Development and Operations, said: “We are delighted to have completed our acquisition of RVEL; this brings to fruition our plans to establish Loram UK Limited as the UK’s leading provider of rail head treatment, rolling stock engineering and bespoke train operation services. Loram’s investment in Derby shows our commitment to existing customers in the UK and will form a platform for us to support and expand the services we offer customers across Europe.
“We will soon start operating our first trains under the Loram brand from Derby and later this year the first of three new Loram Rail Grinders for Network Rail will arrive in the UK. We also intend to accelerate the development of Derby as our European hub as we look to increase market share across the continent.”
Loram UK limited is currently aligning its business processes, brands and market strategy with those of its US parent company, enabling Loram UK to offer a larger portfolio of rail expertise to customers.
As part of the integration process the Loram UK board will reduce in size: Phil Swallow now becomes Senior Executive (Quality and Diversity); Rupert Brennan Brown is retained to advise on Loram stakeholder relations, and; David Rogers, following his appointment as Chair of a major NHS mental health trust, has left the business.
The newly constituted board of Loram UK is led by managing director Andy Lynch. Andy is supported by Andy Houghton as Commercial Director and Gary Stewart as Operations and Safety Director. Joe Carlin and Pete Erwin are also board members.
Joe Carlin added: “The Board of Loram would like to thank David, Phil and Rupert for their significant contributions to the company over recent years.
“I welcome Phil and Rupert to their new roles within the Loram family; and thank David for his contribution to the business, as he moves into the health sector.
“Loram is proud to invest in the UK supply chain, and Andy and his team have been tasked with contributing to industry-wide initiatives being led by the Rail Supply Group, Rail Freight Group and National Skills Academy for Rail, as well as the Rail Forum Midlands”.