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4/29/2016



Rail News: Railroading Supplier Spotlight

Rail supplier news from Miner, Gulf Intermodal Services, Wabtec, Trinity Industries and Parsons (April 29)


CAI Rail Inc. has selected Miner Enterprises Inc.'s Double Groove III pneumatic gates for 440 plastic pellet rail cars to be built by National Steel Car. The gates feature a single-piece, obstruction-free valve that allows for optimal product flow and easy cleaning, Miner officials said in a press release. In addition, the Double Groove III provides a watertight seal, which prevents product leakage and protects the car's contents from floodwaters, rainwater and humidity. Miner also was chosen to provide draft gears, brake beams and constant contact side bearings for the 440 rail cars, which are currently being manufactured at National Steel Car's Canadian facility.

Gulf Intermodal Services (GIS) recently expanded its warehouse space in La Porte, Texas, from 113,000 square feet to 243,900 square feet to meet increasing demand from customers in the lumber, cotton, apparel, electronics and other related industries. The expansion came months after the company ventured into warehousing in mid-2015, GIS officials said in a press release.

In first-quarter 2016, Wabtec Corp. posted net income of $94.1 million, or $1.02 earnings per diluted share, compared with $96.1 million, or 99 cents per diluted share, during the same period in 2015. Revenue came in at $772 million versus $818 million last year. Sales for the company's transit group increased year over year, but the gain was more than offset by lower sales in the freight group, company officials said in a press release.

For first-quarter 2016, Trinity Industries Inc. reported net income of $97.2 million versus $180.2 million during the same period last year. Earnings per common diluted share came in at 64 cents during Q1 2016 compared with $1.13 in 2015, while the company's revenue for 2016's first quarter was $1.19 billion versus $1.63 billion last year. Trinity's rail group posted revenue of $846.9 million, marking a drop from $1.14 billion in 2015. The decrease in this business unit was primarily due to lower deliveries and changes in product mix, Trinity officials said in a press release. Meanwhile, the rail group had a backlog of $4.72 billion as of March 31, representing 43,360 rail cars, compared to a backlog of $5.40 billion at 2015's end.

Parsons Corp. hired Joseph Abruzzo as railroad bridge practice leader. In the role, he'll direct the pursuit and execution of railroad bridge projects worldwide. He has more than 22 years of experience in the design, construction and inspection of structures for transit agencies, Class Is and short lines. In addition, Abruzzo has expertise in the development and maintenance of short line bridge management programs that are mandated by the Federal Railroad Administration.



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