Reports by Bloomberg of a potential sale of GE Transportation to Wabtec Corp. surfaced late Friday April 20, resulting in Wabtec shares gaining 4.5%. The potential transaction size is $6.8 billion, according to Bloomberg.
Ex-Florida Congressman John Luigi Mica, a foodie who spent a considerable amount of time when he was Chairman of the House Transportation and Infrastructure Committee questioning Amtrak’s food service costs, must be very pleased with Amtrak’s announcement that it’s getting rid of dining cars on two long-distance trains.
CSX on April 17 posted record earnings and an all-time low operating ratio—based almost entirely on cost-cutting measures, headcount reductions, rate increases and stock buybacks, not volume growth.
Parallel first-quarter 2018 surveys conducted by Cowen and Company with rail shippers, and with shippers who own or lease railcars, indicate that the market is “generally positive” for railroads and railcar manufacturers.
The U.S. Trade Representative (USTR) has published a notice in the Federal Register listing the Trump Administration’s proposed tariffs on Chinese imports because of its investigation into what it calls “China’s unfair trade practices under Section 301 of the Trade Act of 1974.”
Bentley Systems’ Rail Predictive Maintenance platform “enables railways to understand rail asset condition to improve maintenance decisions, predict asset deterioration to help optimize maintenance schedules, and allows to access to data wherever it adds the most value, in the office or on site,” the company says.
The American Short Line and Regional Railroad Association (ASLRRA) presented several annual awards at the 2018 CONNECTIONS Convention in Nashville. And one of its executives became the first League of Railway Women Hall of Fame inductee.
Conkright Enterprises has acquired Conrad Machine, Inc., which specializes in railroad equipment component manufacturing and provides fabrication services to numerous industries, among them oil and gas. RR Mergers & Acquisitions, a specialist in rail-sector company sales, acted as advisor to Conrad Machine.
Kansas City Southern Railway Co. on March 30 responded to the Surface Transportation Board’s March 16 blanket letter requesting information on Class I railroad 2018 service outlooks.
Canadian Pacific on March 30 responded to the Surface Transportation Board’s March 16 blanket letter requesting information on Class I railroad 2018 service outlooks.