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Communication and Signal
Rail News: Communication and Signal
1/24/2008
Rail News: Communication and Signal
Updates from RailWorks, HLS Systems, GATX and Thomas Group
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From contracts to financial results, several rail industry suppliers and service providers have news to share:
• RailWorks Corp. appointed Steven Milewicz executive vice president, general counsel and secretary, and promoted Gene Cellini from VP of tax to senior VP of tax. Milewicz most recently served as general counsel for Atlantic Hoisting and Scaffolding. Cellini joined Comstock Group Inc., formerly the parent company of L.K. Comstock & Co. and now a RailWorks subsidiary, in 1985 and had been VP of tax since 1998.
• HLS Systems International Ltd. won a $19.9 million contract from China's Ministry of Railways to install and maintain on-board train-control systems for high-speed trains operating at speeds up to 125 mph. The systems will receive and record rail line data, oncoming speed limits, operation status and route information. HLS expects to complete installation by February 2010.
• GATX Corp. reported fourth-quarter income from continuing operations of $41.4 million compared with $28.7 million in the fourth-quarter 2006. Utilization of the company's North American lease fleet closed the year at 97.9 percent, unchanged from the third quarter. Utilization of the European fleet reached 97.2 percent at year-end vs. 95.5 percent at 2006's end. Lease income increased for the full year because the company renewed leases at higher-than-expiring rates, GATX said. The company also acquired 6,000 rail cars and expanded its locomotive fleet in 2007.
• Consulting firm Thomas Group Inc. obtained a contract from an undisclosed rail services provider to develop and implement an enterprise-wide performance improvement program in maintenance operations. Thomas Group will help the service provider improve operational performance by reducing operating costs, increasing quality and service performance, enhancing network efficiency, and improving fleet availability and readiness. The one-year contract includes options for multiple years.
• RailWorks Corp. appointed Steven Milewicz executive vice president, general counsel and secretary, and promoted Gene Cellini from VP of tax to senior VP of tax. Milewicz most recently served as general counsel for Atlantic Hoisting and Scaffolding. Cellini joined Comstock Group Inc., formerly the parent company of L.K. Comstock & Co. and now a RailWorks subsidiary, in 1985 and had been VP of tax since 1998.
• HLS Systems International Ltd. won a $19.9 million contract from China's Ministry of Railways to install and maintain on-board train-control systems for high-speed trains operating at speeds up to 125 mph. The systems will receive and record rail line data, oncoming speed limits, operation status and route information. HLS expects to complete installation by February 2010.
• GATX Corp. reported fourth-quarter income from continuing operations of $41.4 million compared with $28.7 million in the fourth-quarter 2006. Utilization of the company's North American lease fleet closed the year at 97.9 percent, unchanged from the third quarter. Utilization of the European fleet reached 97.2 percent at year-end vs. 95.5 percent at 2006's end. Lease income increased for the full year because the company renewed leases at higher-than-expiring rates, GATX said. The company also acquired 6,000 rail cars and expanded its locomotive fleet in 2007.
• Consulting firm Thomas Group Inc. obtained a contract from an undisclosed rail services provider to develop and implement an enterprise-wide performance improvement program in maintenance operations. Thomas Group will help the service provider improve operational performance by reducing operating costs, increasing quality and service performance, enhancing network efficiency, and improving fleet availability and readiness. The one-year contract includes options for multiple years.
