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4/29/2011


Rail News: Rail Industry Trends
Updates from Bombardier, Alstom, American Railcar, Trinity, EMD and Strategic Rail Finance



• Trenitalia (Italian Railways) recently placed an order with Bombardier Transportation for 50 additional E464 electric locomotives under a contract signed in 2009 for the supply of 100 units. Valued at $186 million, the contract “is a further landmark for Bombardier locomotives in Italy,” Bombardier officials said in a prepared statement. Trenitalia has placed orders for a total 688 E464 locomotives, 570 of which are in service. Delivery of the latest order is scheduled for 2012 or 2013.

• Alstom has obtained a contract worth $192.7 million to supply 19 Metropolis trainsets to the consortium GYM Ferrovias S.A.1 for use on Lima, Peru’s first transit-rail line. The first trainset is slated for delivery in late 2012. The trains will be manufactured at Alstom’s plants in Europe.

• American Railcar Industries Inc. reported a net loss of $5.3 million, or 25 cents per share, in the first quarter compared with a net loss of $7 million, or 33 cents per share, in the same period a year ago. Revenue jumped 62 percent to $84.8 million from revenue of $52.3 million in first-quarter 2010. Rail shipments rose to 670 rail cars vs. 340 a year ago. The backlog climbed to 5,630 cars — including 280 cars for lease — as of March 31, compared with 1,050 on Dec. 31, 2010.

• Trinity Industries Inc. reported net income of $24.2 million, or 30 cents per common diluted share, for the first quarter compared with net income of $2 million, or 2 cents per share, for the same period a year ago. The results for first-quarter 2010 included pretax transaction expenses that totaled $4.3 million, or 4 cents per common diluted share, related to the acquisition of Quixote Corp. Revenue rose 42 percent to $644.2 million compared with $454 million in first-quarter 2010. The rail group reported revenue of $219.8 million with an operating profit of $9.3 million, compared with revenue of $73.6 million and an operating loss of $7.9 million in first-quarter 2010. TrinityRail® shipped 2,240 rail cars and received orders for 18,770 cars in the quarter. As of March 31, TrinityRail’s backlog grew to $1.8 billion, or 22,490 cars, compared with a backlog of $458 million, or 5,960 cars, as of Dec. 31, 2010.

• Electro-Motive Diesel Inc. (EMD) and Rail Systems Inc. (RSI) have agreed to dissolve their distributor relationship for rail parts, EMD officials said in a prepared statement. EMD’s business relationships with other Kirby Engine Systems’ companies supplying the power generation, marine and industrial markets will remain unchanged. Current RSI customers can deal directly with EMD, EMD officials said.

• Strategic Rail Finance (SRF) has formed HBS Advisors, a new division that will work with shippers in need of capital to expand their business and use of rail transportation, SRF President Michael Sussman said in a prepared statement. The new division will coordinate funding solutions for manufacturers, transload and warehouse operators, new-energy providers, innovative and sustainable industries, agriculture and forestry enterprises, and other rail-served companies, he said.




 

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