The European Commission yesterday approved Siemens' proposed acquisition of Invensys Rail. The regulators confirmed that the two companies are not close competitors, that the merged entity would face competition from other strong competitors and that customers would have significant buying power after the merger. The commission examined the competitive impact the merger would have on the markets for the sale of signaling projects and products for mainline railway and mass transit systems in the European Economic Area as a whole, and in specific member states where Invensys Rail and Siemens are both active.
Invensys Rail has obtained two new signaling contracts in Watford and Reading, United Kingdom, under Network Rail's signaling framework agreements. The Watford Junction project will entail renewal of signaling, control systems, power and cabling, as well provide support for ongoing track remodeling. Valued at $52.2 million, the contract will cover 143 signaling equivalent units (SEUs), and include Invensys Rail's WESTLOCK computer-based interlocking and WESTCAD control center display technology. The $29.6 million contract in Reading will cover 117 SEUs and non-SEU work.
Thales obtained a contract to provide telecommunications systems for the Manaus monorail, which will be equipped with the Thales Seltrac® CBTC communications-based train control systems. This is Thales third contract in the Brazilian transportation business, according to a company press release.
Hub Group Inc. reported net income grew 12 percent to a record $15.4 million and diluted earnings per share rose 14 percent to 42 cents in the first quarter compared with the same period a year ago. Revenue rose 4 percent to $769 million. The Hub segment's revenue climbed 5 percent to 593 million; intermodal volume rose 6 percent to $427 million; truck brokerage revenue increased 4 percent to $84 million; and Unyson Logistics revenue grew 3 percent to $82 million.
Parsons Brinckerhoff has named David Peterson a senior engineering manager in Minneapolis, where he will be responsible for rail project design and construction in Minnesota and the upper Midwest. He has 30 years of experience with design and construction of railroad, transit and other public works projects. Prior to joining the firm, he was associate director for a consulting engineering firm in Australia.
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