IONX to Acquire Telematics Solutions Provider Salco Technologies
WEST CHESTER, Pa., October 7, 2008 — IONX LLC, the telematics technology company of Amsted Rail, has signed a Letter of Intent in which IONX will acquire Salco Technologies, LLC, a wholly-owned subsidiary of Salco Products, Inc. Salco Technologies, Lemont, Ill., is a leading provider of telematics solutions for the chemical shipping industry.
The acquisition of Salco Technologies will provide customers a stable foundation of ongoing support and new technology from IONX and their parent company, Amsted Rail. This is a strategic addition for IONX to extend the reach of its Edge™ asset monitoring system into the chemical shipping industry.
“This acquisition is a step toward our goal of providing the rail industry with world class telematics and condition monitoring solutions,” said Pat Ameen, vice president and general manager for IONX. “The talent, customers and products of Salco Technologies complement our business and extend our ability to support customers throughout the global supply chain. Their experience and field knowledge will enhance the further development of IONX’s technologies.”
Salco Technologies was one of the early entrants to the telematics market with its EverSee2 system, which is currently installed on railcars and containers operated by some of the nation’s largest chemical shippers.
“We look forward to joining forces with IONX through this acquisition,” said Dave Oestermeyer, president of Salco Products Inc. “Together we will be able to collaborate in asset monitoring product development for shippers in the chemical industry.”
About IONX LLC
Headquartered in West Chester, Pa., IONX LLC is a developer of ultra-low power telematics solutions for railcars, providing GPS tracking, asset status and condition monitoring. The IONX Edge™ asset monitoring system uses satellite and cellular networks for reliable global communications service. IONX is a business unit of Amsted Rail Incorporated. www.ionxlive.com
About Amsted Rail
Amsted Rail, based in Chicago, is an industry-leading, global provider to the rail industry of value-added products and services ranging from castings, bearings and wheels to telematics. Building on its more than 100 years of manufacturing experience and heritage of innovation, it is continually developing new ways to apply freight car data to product design. Amsted Rail has more than 30 manufacturing locations around the world. It is a division of Amsted Industries Incorporated. www.amstedrail.com
About Salco Products, Inc.
Salco Products, Inc., Lemont, Ill., is a leader in the supply of loading and unloading components for liquid and dry bulk commodities in the North American railcar and trucking industry. With 25 years of transportation industry experience, Salco Products continues to provide superior customer service and product development that addresses the needs of the shipper community. www.salcoproducts.com
For more information about the IONX Edge asset monitoring system e-mail info@ionxlive.com or visit www.ionxlive.com.
|
