Network Rail has purchased the rail division of Hydrex Equipment, which will also include a transfer of its staff.
The company, which is a key supplier to Network Rail and is one of the largset providers of road-rail vehicles in the industry, was acquired from administrator KPMG.
Network Rail director of national delivery service Martin Elwood said this was not a step taken lightly. “The purchase of Hydrex’s rail division has secured hundreds of jobs while making sure we can deliver as planned our programme of maintenance, renewals and enhancements across the rail network,” he said.
“Our priority in making this purchase is to ensure continuity of works. Once we have set in place a successful transition we will seek input from across the industry, including other on-track plant suppliers, about any impact on the market place.”