We’re selling Network Rail (NDS-Plant) Limited, a subsidiary company
21 February 2012The subsidiary was set up in November 2011 following our purchase of the rail division of Hydrex Equipment (UK) Ltd from its administrators. The purchase, approved by the Office for Rail Regulation, included transfering the employment of all rail division staff and ownership of over 300 road rail vehicles.
Hydrex was the largest provider of road rail vehicles to the rail industry and a key supplier to us and our infrastructure contractors. Our purchase brought to an end an extended period of uncertainty for Hydrex’s employees, customers and suppliers, while providing continuity of business for the supply of heavy plant to the industry.
Martin Elwood, director of our National Delivery Service, said: “The purchase of Hydrex’s rail division secured hundreds of jobs and meant Network Rail and its partners could deliver the vast majority of planned maintenance, renewals and enhancements across the rail network over the busy Christmas and New Year period.
“My thanks go to the transferred Hydrex staff and the NDS-Plant management team for their efforts in ensuring this much-needed continuity. Our plan is to continue to deliver high levels of safety and performance while Network Rail seeks a suitable buyer for NDS-Plant.”
We’re consulting directly with NDS-Plant staff, trade unions, customers, contractors and the Office for Rail Regulation regarding the proposed sale, which will be via an open tender process.
