April 2008; Nortrak-DAMY Announcement

April 1, 2008

VAE Nortrak acquires ownership in DAMY Cambios de Vía, S.A. de C.V

The name of the company will be Nortrak-DAMY.

VAE Nortrak North America Inc, a wholly owned subsidiary of VAE GmbH, Austria announced today that it has acquired a majority ownership in DAMY Cambios de Vía, S.A. de C.V.

DAMY Cambios de Vía, S.A. de C.V is located in Guadalajara, Mexico and has been a manufacturer of specialty trackwork for more than 40 years. DAMY is the market leader in Mexico for trackwork products and is known for its product quality and commitment to customer service.

Nortrak has been working together with DAMY very closely over recent years and the participation of Nortrak in DAMY is the final step of the excellent business relationship.

For Nortrak and DAMY this is a very important strategic step to serve the growing Mexican market with new technology products and excellent customer service.

On behalf of the Executive Board of VAE Nortrak North America, Inc.

Sylvain Garneau
Chief Executive Officer

Brian Abbott
Chief Technical Officer

Eddie Peinhopf
Chief Financial Officer


On behalf of Nortrak-DAMY

Alejandro Damy
Chief Executive Officer