Network Rail has announced it intends to complete the sale of its plant arm, Network Rail (NDS-Plant) Ltd, to TXM Plant in a move that will secure 377 jobs.
Network Rail Infrastructure Ltd will sell the provider of specialist heavy plant and equipment a year after it was formed as a subsidiary of Network Rail following the purchase of Hydrex Equipment (UK) Ltd from its administrators
Network Rail received consent from the Office for Rail Regulation to be involved in the ownership of road-rail vehicles for use by third parties however it said its intention was always that this would be a temporary measure.
Network Rail announced in February 2012 that it intended to sell NDS-Plant through an open tender process, which is due to be completed before the end of the week.
Network Rail’s National Delivery Service director Martin Elwood said: “The successful sale of the NDS-Plant business will enable Network Rail Infrastructure Ltd to safeguard hundreds of jobs and will allow essential rail maintenance, enhancement and renewal programmes across the rail network to continue without disruption.”