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2012-02-21 NET-001
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NETWORK RAIL TO SELL NDS-PLANT SUBSIDIARY


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Network Rail



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Network Rail

NETWORK RAIL TO SELL NDS-PLANT SUBSIDIARY
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date
Tuesday 21 Feb 2012 13:00
source Network Rail
type Press release



Network Rail Infrastructure Limited has announced it intends to sell its subsidiary, Network Rail (NDS-Plant) Limited.

The subsidiary was set up in November 2011 following Network Rail’s purchase of the rail division of Hydrex Equipment (UK) Ltd from its administrators, KPMG. The purchase, which was approved by the Office for Rail Regulation, included the transfer of employment of all rail division staff and ownership of over 300 road rail vehicles (RRVs).

Hydrex was the largest provider of RRVs to the rail industry and a key supplier to Network Rail and its infrastructure contractors. Network Rail’s 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 Network Rail’s 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.”

Network Rail is 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.



Notes to Editors:

In November 2011, Network Rail sought the ORR’s consent, under licence condition 5, for Network Rail and its subsidiary Network Rail (NDS-Plant) Limited to be involved in the ownership of road rail vehicles for use by third parties. ORR granted its consent on the same day.

Following consent being granted, Network Rail Infrastructure Limited completed the purchase of the rail division of Hydrex Equipment (UK) Limited from their administrators, KPMG LLP. This purchase included the transfer of employment of all 531 rail division staff.

Mindful of the need to reassure the wider industry regarding the purchase, Network Rail has held regular discussions with the Rail Plant Association, contractors, other former Hydrex customers and the trades unions since completing the purchase.




Railhub Archive ::: 2012-02-21 NET-001





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