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Rail News Home Financials

8/1/2008



Rail News: Financials

Updates from Virgin Rail, Alstom, Trinity, Portec, Railpower and Faiveley Transport


• Virgin Rail Projects Ltd. won a bid from England's Department for Transport to help introduce 31 longer Pendolino trains on the West Coast Main Line. Virgin Rail will provide support through the trains' design, manufacturing, delivery, testing and commissioning phases until March 2012. The department also reached an agreement with Alstom to begin building the new high-speed tilting Pendolino trains and 106 cars. The rolling stock is expected to enter service in late 2012.

• Alstom won a contract from German railway operator BeNEX to supply 26 Coradia Continental regional trains. The 21 three-car and five four-car trains — which can operate at speeds up to 99 mph — will be placed in service in the Regensburg-Donauthalbahn regional network in late 2010. Alstom will manufacture the trains at its Salzgitter, Germany, plant.

• Trinity Industries Inc. reported second-quarter revenue of $945.5 million and net income of $85.6 million vs. $892.6 million and $68.7 million, respectively, in second-quarter 2007. TrinityRail® shipped 6,580 rail cars and received orders for 7,430 cars during the period. As of June 30, TrinityRail's backlog stood at 28,680 cars valued at $2.4 billion vs. 33,880 cars valued at $2.8 billion a year earlier. Trinity Industries Leasing Co.'s fleet totaled 41,100 cars compared with 34,670 cars in June 2007. The lease fleet's utilization was 99.6 percent vs. 99.5 percent a year ago.

• Portec Rail Products Inc. reported record second-quarter unaudited net income of $2.4 million, up 27 percent compared with second-quarter net income. Net sales totaled $30.2 million, up 4 percent. Portec Rail supplies rail joints and anchors, spikes, railway friction-management products, wayside data collection and data management systems, and load securement systems.

• Railpower Technologies Corp. will provide two four-axle, multi-GenSet RP20BD locomotives and one hybrid GG20B locomotive for Virginia International Terminal (VIT). The contract calls for VIT to lease the locomotives for three years, then purchase the units. The RP20BD models are designed to significantly reduce emissions and cut fuel usage compared with conventional switchers.

• Faiveley Transport completed the acquisition of Ellcon-National Inc., which produces freight-car products, including brakes and loading devices, and passenger-car components, such as stainless steel doors and windows. Faiveley entered into exclusive negotiations to acquire Ellcon-National in June.


Contact Progressive Railroading editorial staff.

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