Sumitomo invests in Evertrak to advance sustainable railroad infrastructure
Sumitomo, through its subsidiary Sumitomo Corporation of Americas (SCOA), jointly known as the Sumitomo Corporation Group, has made a strategic investment in Evertrak, a manufacturer specialising in composite railroad ties for North America’s rail industry.
Sumitomo, through its subsidiary Sumitomo Corporation of Americas (SCOA), jointly known as the Sumitomo Corporation Group, has made a strategic investment in Evertrak, a manufacturer specialising in composite railroad ties for North America’s rail industry.
Sumitomo Corporation Group, through its Steel Group, supports North American freight railroads by exporting rails from Japan and producing tie plates, wheels, and axles in North America.
Its investment in Evertrak aims to expand production capacity and develop sustainable, competitive railroad solutions, aligning with its existing operations.
Evertrak founder and CEO Tim Noonan said: “Evertrak glass fibre reinforced polymer composite railroad ties are engineered to deliver value, safety and sustainability for the railroad industry.
“By joining forces with Sumitomo, whose mission of enriching lives and sustaining the future aligns perfectly with our vision, we’re positioned to create lasting impact in the North American railroad industry.”
In the southeastern US, known as high decay zones, wood railroad ties deteriorate quickly due to the warm and humid climate.
