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Rail News: Financials

Updates from National Railway Equipment, Alstom, GATX, Wabtec and FLS Transportation

The rail supply world continues to spin:

• NOVA Chemicals recently tested National Railway Equipment Co.'s N-ViroMotive™ "GenSet" locomotive at its Joffre, Alberta, plant — the world's largest ethylene and polyethylene complex that features one of Canada's biggest industrial rail yards. The three-engine, four-axle, 2,100-horsepower locomotive reduced air emissions, cut fuel usage, provided better traction and produced less noise compared with a conventional switcher, said NOVA Chemicals Rail-Maintenance Coordinator Fred Owens in a prepared statement.

• The Quebec Superior Court yesterday ruled Alstom Transport has the right to participate in an invitation to bid for a contract to replace Société de Transport de Montreal's (STM) metro car fleet. In June 2006, Alstom filed a lawsuit contesting the Quebec government's approach to renewing the Montreal metro operator's fleet. The government had planned to have STM enter into exclusive negotiations with Bombardier Transportation to replace 336 metro cars. The contract's value had been estimated at $1.2 billion.

• GATX Corp. appointed Michael Brooks senior vice president and chief information officer. He most recently served Constellation Energy as retail energy chief information officer and VP. Brooks previously was a business systems consultant for Accenture and Oracle Corp., and a consultant with The Barrington Consulting Group.

• Wabtec Corp. has affirmed its projection that revenue in 2007 increased between 22 percent and 24 percent and earnings reached about $2.20 per diluted share. The company will report 2007 financial results in late February. For 2008, Wabtec is projecting mid-single-digit revenue growth and earnings of $2.50 per diluted share. If the estimates hold true, the company will post revenue and earnings gains for the sixth straight year.

• FLS Transportation Inc. has opened offices in Los Angeles and Kansas City, Mo., the third-party logistics provider's 10th and 11th U.S. locations. The company operates Canadian offices in Montreal, Toronto, Calgary, Alberta, and Moncton, New Brunswick; and U.S. offices in Atlanta, Chicago, Detroit, Cincinnati, Charlotte and Greensboro, N.C., Reno, Nev., Shreveport, La., and Springfield, Mo. FLS provides truckload, intermodal, air, ocean and specialized services.

Contact Progressive Railroading editorial staff.

More News from 1/10/2008