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Rail News Home Financials

5/19/2008



Rail News: Financials

Updates from Wabtec, Belden, Gannett Fleming, Trinity and NICE Systems


The latest rail industry supplier/service provider developments cover both international and domestic moves:

• Wabtec Corp. signed an agreement to acquire European rail braking equipment supplier POLI S.p.A. for about $80 million. Based in Italy, POLI provides various braking-related components to the freight- and passenger-rail industries, including brake discs for high-speed applications, tread brake units and pneumatic brake valves. Expected to close in the third quarter pending customary closing conditions, the transaction will help position Wabtec for growth in key international markets, the company said.

• Belden Inc. has consolidated affiliates Belden Europe, HEW-Kabel, Hirschmann Automation and Control, and Lumberg Automation into newly formed business unit Belden EMEA, which will be headquartered in Stuttgart, Germany. Belden named Wolfgang Babel, head of Hirschmann Automation, president of Belden EMEA. Belden Inc. supplies signal transmission products, including cable, and connectivity and other components for applications ranging from industrial automation to data centers.

• Gannett Fleming has appointed Sam Mayman senior associate. Based in Los Angeles, he serves as vice president and western region transit manager, and is responsible for all transit projects and the firm's transit and rail practice in the western U.S.

• Trinity Industries Inc. subsidiary Trinity Rail Leasing VI L.L.C. has issued $572.2 million of promissory notes, secured by a portfolio of rail cars, operating leases and certain cash reserves. The company will use proceeds to repay a portion of Trinity's warehouse facility and finance unencumbered rail cars on its balance sheet. The transaction provides Trinity with capital to continue growing its rail-car lease fleet, the company said.

• NICE Systems Ltd. has obtained another follow-on order from China's Ministry of Railways for an IP-based video security system. Along with business partner Smartron Technology (China) Inc., NICE will supply a NiceVision Net system designed to provide non-stop surveillance of tracks and stations, and real-time alerts to security personnel. The ministry will employ the system on the Hefei-to-Wuhan high-speed line, which is expected to open in 2009.


Contact Progressive Railroading editorial staff.

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