Balfour Beatty Rail sells UK trackwork business

Balfour Beatty, the international infrastructure group, has announced that Balfour Beatty Rail has agreed to sell its UK trackwork manufacturing business to Progress Rail Services, a wholly-owned subsidiary of Caterpillar.

The trackwork business, which generated revenues of £55m in 2010, designs and manufactures manganese steel castings, track panels, turnouts and crossings at five sites in the UK.