INFORMATION FOR CUSTOMERS REGARDING COVID-19.

Aspen Equipment Sells Railroad Rental Division to Danella Companies Inc.

Aspen railroad truck

For over four decades, Minnesota-based Aspen Equipment Co. has catered to the needs of the railroad maintenance business through the production, service and rental of railroad truck equipment to customers spanning the U.S. and Canada, including Class 1, transit, short-line and rail contractors. As our railroad truck equipment business expands and evolves, we periodically look at the various aspects we offer and strive to provide continuously improving customer service. Sometimes these evolutions add more services and sometimes they cause us to reduce some offerings in order to stay ahead of the curve.

Through our strategic planning process, Aspen has decided to focus our resources and energies on the production and service of new railroad truck equipment. Every business has limited resources. Our goal is to maximize the impact we have with our customers by deploying our resources where they provide the most value. As such, we have decided to find a partner to acquire our rental fleet of rail truck equipment in order to redeploy those assets toward production, sales and service.

In an effort to continue to service our existing rental customers, Aspen selected Danella Companies Inc., the leader in rail maintenance equipment rentals across North America. On March 1, 2020, Danella will acquire all railroad rental equipment and assume the associated rental contracts from Aspen Equipment. Jointly, Aspen and Danella will make every effort to ensure this transition period is seamless for all those affected.