CalAmp Corp. has signed definitive agreement to acquire the operations of Wireless Matrix Corp., a wireless data communications solutions company, for a cash payment of $53 million. As part of the assets to be acquired, CalAmp expects to receive about $5 million in cash. The company plans to fund the purchase with the proceeds of an equity offering of $35 million, bank debt and on-hand cash. Subject to closing conditions, the transaction is expected to be completed in March, according to a CalAmp press release.
Siemens equipped the Beijing Subway's new Line 10 and onboard equipment for 84 trains with its Trainguard MT train protection system. At about 35 miles, Line 10 is now the world's longest metro line equipped with communication-based train control, according to a Siemens press release. Line 10 began operating in December.
Ansaldo STS, a consortium partner of Consorzio Saturno, obtained a contract valued at $107 million from the Italian Railway Network for part of the technological work on a high-speed rail line under construction between stations in Treviglio and Brescia. Ansaldo will be responsible for designing, building, installing and implementing the signaling (Level 2 ERTMS/ETCS and multi-station) and automation installations on the line, as well as the electrical substations, parallel positions and some data management installations for electrical traction and air conditioning. Also, Ansaldo will oversee the air conditioning, ventilation and heating installations for the new technological buildings.
PowerRail Distribution has marked its 10th anniversary. The AAR M-1003 quality company offers a line of locomotive parts and components, including True Blue™ remanufactured unit exchange components. PowerRail maintains manufacturing and distribution facilities throughout North America.
John McAslan + Partners' King's Cross Station Redevelopment project in London won a 2012 Inspired Award from Bentley Systems Inc. The project was recognized in the "innovation in building" category, which honors projects that use advanced technology to help deliver high-quality buildings in terms of aesthetics, program adherence, environmental sustainability, operational performance, compliance with regulation and accreditation, and a return on investment, according to a Bentley press release. The station redevelopment project — which transformed the historic facility into a modern transportation interchange point — involved the restoration of the facade and vaulted train shed.
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