Caterpillar unit acquires manufacturer

NAPLES — Progress Rail Services acquired Haynes Corp., a Naples company that manufactures fuel-injection systems for locomotive engines.

Terms of the deal were not disclosed. Haynes is a closely held company owned by the Dixon family of Naples and in 2010 the company consolidated its manufacturing operations in Collier County (click here to read a Business Observer story about that move.)

“This acquisition is a good strategic fit to expand our offering of locomotive service parts, as Haynes Corp. focuses on high quality, innovative solutions that help meet and exceed EPA expectations for emissions while generating fuel savings,” says Progress Rail President and CEO Billy Ainsworth in a statement.