Cowen and Company examines whether Caterpillar, Inc. could explore strategic alternatives for its transportation business, or at least the rail piece. An enterprise value-to-revenue multiple of 2.5x-2.75x may not be unreasonable, putting the transportation business value at approximately $12 billion.
The ports of Los Angeles and Long Beach in California report 2022 as their second-busiest year on record. Also, South Carolina Ports (SC Ports) announces a record 2022 with the most containers ever handled at the Port of Charleston. All provide their outlook for 2023.
Tightness across a wide array of freight cars has continued, and with supply chain challenges limiting the industry’s ability to produce to demand, the lease rate momentum looks sustainable, according to expert panelists at Cowen and Company’s Jan. 19 webinar on the current state and outlook of the rail, locomotive, and railcar leasing and manufacturing markets.
Wabtec Corporation (Wabtec) announces winners for its “Exceed Campus Challenge” in India. Also, Rail Vision Ltd. (Rail Vision) appoints Mark Cleobury as Chairman.
Railway Age is pleased to announce the 25 “Fast Trackers” selected for this year’s 25 Under 40 awards program.
According to Cowen and Company’s recently conducted fourth-quarter 2022 Rail Equipment and Rail Shipper surveys, the demand for railcars remains strong, and rail-shipping pricing expectations ticked up sequentially. Details follow, plus insights on the Class I railroads, ahead of earnings.
Wabtec’s Avellino, Italy site earns International Railway Industry Standard (IRIS) Gold for quality performance. Also, Australia’s Qube acquires 12 new GT46 locomotives from Progress Rail, a Caterpillar Company.
Wabtec Corporation has earned a “Commercial Technology of the Year” award from S&P Global Commodity Insights. Also, thermal device management firm Actasys Inc. has signed a development agreement with Alstom.
Wabtec Corporation’s adaptive wheel-slide protection (WSP) technology to help improve rail transit braking performance has gained certification, the company reported Dec. 6.
Norfolk Southern (NS) recognizes 15 customers and suppliers for leadership in energy efficiency, innovation and environmental stewardship. Also, Union Pacific (UP) reports the Mexican government’s extension of the Carta Porte grace period.