Goldschmidt Thermit expands in the US / Acquisition of PortaCo, Inc. in Minnesota
The Goldschmidt Thermit Group is continuing its international expansion and is developing its existing presence in the North American market. On 1 August 2013, Goldschmidt Thermit Group, the global leader in Thermit welding and services for the repair and maintenance of rail systems for Transits and Main Lines acquired 100% of the shares of PortaCo, Inc., a producer of hydraulic power units and tools, headquartered in Moorhead, Minnesota. The Goldschmidt Thermit Group is represented in the United States market since 1967, by Orgo-Thermit, Inc.
PortaCo, Inc. has been a leading producer in the railway industry for more than 30 years. As a manufacturer of customized hydraulic power units and tools for a number of industries, PortaCo ideally complements the range of products and services offered by the Goldschmidt Thermit Group.
"The United States are investing heavily in the new construction and maintenance of rail infrastructure. Rail traffic in the North American market becomes more important. This is evident with high-speed rail projects such as the on-going California High-Speed Rail initiatives. Local public transport railway networks are also being vigorously expanded and cities such as Atlanta and Los Angeles are extending their transit networks.
"This is an important growth market for our company," explains Dr. Hans-Jürgen Mundinger, chairman of the managing board at the Goldschmidt Thermit Group. "The acquisition of PortaCo enables us to complement our product portfolio and strengthen our activities in the area of the manufacture of special tools for the servicing and maintenance of rail systems in the US market considerably."
The Goldschmidt Thermit Group has been expanding its market presence internationally for a number of years now. The product portfolio is divided into the five areas of Rail Joining, Rail Services, Measurement, Tools & Machines and Equipment and is organized to meet the requirements of the market for rail infrastructure. In particular, Goldschmidt Thermit Group is a reliable partner worldwide for the maintenance and renovation of tracks and expansion of rail networks.
"The successful development in recent years has laid the foundations for further growth", emphasises Dr. Hans-Jürgen Mundinger. "We are therefore exploring the possibilities of further acquisitions and cooperation agreements to further expand our position worldwide."