Wabtec Corp. and General Electric (GE) announced Jan. 25 that the planned merger of Wabtec and GE Transportation is expected to close by the end of February 2019, “subject to satisfaction or waiver of customary closing conditions.” The two have modified the terms of their merger agreement and have publicly filed S4 and S1 registration statements, respectively, with the U.S. Securities and Exchange Commission (SEC).
Charles R. Collins III, P.E., has joined Stantec’s Chicago office as a Senior Rail Engineer.
Norfolk Southern’s fourth-quarter and full-year 2018 financial results include record operating income for both periods, and a full-year record-low operating ratio of 65.4%. Net income was $702 million, and diluted earnings per share were $2.57 for 4Q18, and $2.67 billion and $9.51, respectively, for the full year.
Vernice Armour, a motivational speaker who served as America’s first African-American female combat pilot, will give the keynote address at the Railway Interchange 2019 exhibition and technical conference at the Minneapolis Convention Center. Armour will address the general session on Monday, Sept. 23.
Union Pacific posted solid financials for fourth-quarter and full-year 2018, and committed to a 2019 capital program that will equal 2018’s $3.2 billion.
So far, 2019 is off to a strong start for Class I traffic volume. Association of American Railroads-compiled numbers for the week ended Jan. 19 show total U.S. rail traffic of 543,111 carloads and intermodal units, up 6.9% compared with the same 2018 week; 258,833 carloads, up 7.4%; and intermodal volume 284,278 containers and trailers, up 6.5%. North American (U.S.-Canada-Mexico) numbers rose, even though Mexican traffic, measured alone, declined.
Canadian Pacific Railway on Jan. 24 announced record results for fourth-quarter and full-year 2018. “The power of the CP operating model is evident in the strong performance across the company,” said Keith Creel, President and CEO. “We set records across many lines of business in 2018, including Canadian grain, potash and domestic intermodal. 2018 was a record by almost every measure and will be remembered as a watershed year.”
The Los Angeles County Metropolitan Transportation Authority (Metro) Blue Line will undergo a comprehensive $350 million modernization beginning Jan. 26, 2019. The line, which opened in 1990 and is Metro’s oldest rail transit line, has been undergoing safety and operational improvements since 2014.
KeyBanc Capital Markets analyst Steve Barger attended the Midwest Association of Rail Shippers (MARS) conference and came away “believing our bullish thesis on the railcar space is correct.”
The American Short Line and Regional Railroad Association has named Charles H. “Chuck” Baker as President, effective Feb. 4, 2019.