February 1st, 2005
CHICAGO, Feb. 1 -- ASF-Keystone Inc., a member of the AMSTED Rail Group, and Pennsy Corporation announced today that they have completed an asset purchase agreement whereby ASF-Keystone has acquired Pennsy’s Split Wedge Friction Damping product line and associated patents. This strategic acquisition further enhances AMSTED Rail Group’s ability to deliver the Total Truck System.

ASF-Keystone Inc. is a division of Amsted Industries, and, along with Brenco/QBS and Griffin Wheel Co., makes up the Amsted Rail Group. Pennsy Corporation is a leading supplier of innovative products to the railroad freight car industry. Using a range of polymer and metal technologies, Pennsy’s products are known throughout the industry to increase component life and freight car performance. Pennsy, a privately held company established in 1984, is based in West Chester, Pennsylvania.