VAE Nortrak Announces Expansion

CHEYENNE – Effective May 29, 2007, VAE Nortrak North America Inc. (“Nortrak”) has completed the purchase of two buildings from the City of Cheyenne. Since January of 2000 Nortrak has leased one of the buildings from the City. The second building will facilitate the company’s expansion into the manufacture of pre-stress concrete switch ties for the railroad industry.

VAE Nortrak will supply concrete switch ties to current customers and the railroad industry at large. Nortrak will invest approximately 4.7 million dollars into creating this new business.

Remodeling and facility renovation will commence in June. Most of the equipment required for the new facility is custom built with numerous items imported from Europe. The plant is expected to be fully operational in the fall of 2007. Nortrak is currently recruiting exceptional people to meet the immediate need for 20 new employees and the anticipated 50-60 positions as they build toward full capacity within three years.

Cheyenne LEADS and prior City Administrations were instrumental in bringing Nortrak to Cheyenne; breaking ground on the original facility in 1996. The Grand Opening soon followed on June 4, 1997. Nortrak is proud to be celebrating 10 years of operations in Cheyenne.

The company currently employs more than 120 employees in Cheyenne and is an active partner in the business community maintaining successful relationships with about 35 local suppliers. Since commencing operations, the company’s Cheyenne plant payroll and benefits exceed $40 million. Annual payrolls and benefits are now $5 million.

With the addition of this newest facility Nortrak will utilize 158,000 sq ft of manufacturing space on a 28 acre site in Cheyenne, WY.

VAE Nortrak is the market and technical leader in the track material business in North America. The company designs and manufactures trackwork which include turnouts, frogs, switches and special layouts for all customers from Industrial to Class 1 Railroads. In addition, the company supplies and distributes rail, trackwork, relay materials and other track materials all across North America. It is also a manufacturer of Transit trackwork for conventional and streetcar systems. From its eight manufacturing plants Nortrak proudly offers rail technology and innovation unmatched in North America.

The majority shareholder of the company is voestalpine which is the world market leader for trackwork. The April 16, 2007 Forbes Magazine ranked Nortrak’s parent company (voestalpine) 813 in its list of the World’s largest companies.

Cheyenne LEADS is a member-supported private non-profit corporation devoted to bringing jobs and economic opportunity to Laramie County. LEADS serves as the Economic Development entity for the City of Cheyenne and for Laramie County, Wyoming.

Source: James Rittmueller 307-633-8203