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Acquisition of EMD Completed

Posted on April 7, 2005

Greenbriar Equity Group LLC, Berkshire Partners LLC and certain related parties today announced the completion of the acquisition of Electro-Motive Division from General Motors. The company, which will be named Electro-Motive Diesel, Inc. (EMD), is one of the world’s largest manufacturers of freight and passenger diesel-electric locomotives.

The transaction covers substantially all of the Electro-Motive businesses, including North American and international locomotives; power, marine and industrial products; the spare parts and parts rebuild business; and all of Electro-Motive’s locomotive maintenance contracts worldwide. Both the LaGrange, Illinois, and London, Ontario, manufacturing facilities are included in the agreement.

Greenbriar and Berkshire also announced that John Hamilton has been named President and Chief Executive Officer of EMD. Mr. Hamilton, who worked with Greenbriar and Berkshire on the transaction for more than a year, has served in senior management roles leading the successful turnaround of several manufacturing companies in the transportation industry over the past decade.

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