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Rail News Home Financials

8/28/2008



Rail News: Financials

Updates from Harsco, HNTB, VTG Aktiengesellschaft and Midland Manufacturing


• Harsco Corp. obtained a three-year, $20 million extension to a scaffolding services contract from Balfour Beatty plc for the final phase of repainting Forth Rail Bridge in Scotland. Harsco will continue to engineer and install scaffolding structures and work platforms at the bridge, which opened in 1890 and is the world's oldest and second-longest cantilever bridge.

• Engineering firm HNTB Corp. has expanded its public transit and rail market services staff. The company named Rod Eggleston rail practice leader for the Great Lakes Division; Don Sepulveda, senior railroad engineer for the West Division; Robert Ball, senior project manager for the West Division; Lawrence Meeker, associate vice president; Kevin Williams, associate vice president; Kyle Keahey, associate vice president and transit practice leader for the Central Division; L. John Tipton, rail transit design manager in the Corporate Ventures Division; and Neil Greenlee, assistant department head of structures.

• European rail logistics and wagon hire firm VTG Aktiengesellschaft reported first-half revenue of $440.5 million, up 13.1 percent compared with first-half 2007's total. Operating profit jumped 26.7 percent to $115 million. The Wagon Hire Division increased revenue 15.6 percent to $212 million. The division's utilization rate reached 93.8 percent vs. 91.9 percent a year earlier. The Rail Logistics Division's revenue rose 10.9 percent to $128 million.

• Midland Manufacturing has appointed Michael Santangelo customer service supervisor. He most recently was customer service representative. Santangelo previously held various customer service positions at AM/PM Premium Car Carrier Co. and O'Hare/Midway Limousine Co. Midland supplies tank car safety valves and equipment in North America.


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