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Rail News Home Financials


Rail News: Financials

Updates from FreightCar America, Trinity Industries, Safetran, Minmetals and Vossloh


• FreightCar America Inc. reported third-quarter sales of $238 million and net income of $7.4 million vs. $162.1 million and $8.7 million, respectively, in third-quarter 2007. The company received orders for 2,329 rail cars compared with 1,436 units in the second quarter and 1,262 units in third-quarter 2007. The firm’s backlog stood at 4,401 units on Sept. 30 vs. 4,930 units a year earlier.

• Trinity Industries Inc. reported third-quarter earnings from continuing operations of $91.5 million vs. $87.2 million in third-quarter 2007. Net income reached a record $90.1 million (vs. $87 million a year ago) and revenue totaled $1.15 billion (vs. $1 billion). TrinityRail® delivered 8,560 rail cars and obtained orders for 4,010 cars. The subsidiary’s backlog on Sept. 30 stood at 24,130 cars valued at about $2 billion compared with 31,300 cars valued at $2.6 billion on Sept. 30, 2007. Trinity Industries Leasing Co.’s fleet swelled to 43,910 cars vs. 35,890 cars at the end of third-quarter 2007.

• Safetran Systems Corp. has appointed Don Channell director of sales.  He will head sales activities for all North American freight-rail signaling and communications systems and products. Channell has 18 years’ experience in the rail supply industry, and has held various general, marketing and sales management positions.

• Chinese firm Minmetals won a $300 million contract from Russian mining and metals company Mechel OAO to construct a rail and structural steel mill at a metallurgical plant in Chelyabinsk, Russia. The mill will produce rails up to 80 feet in length for the Russian Railways through a partnership with Mechel.

• Vossloh AG’s third-quarter sales rose about 24 percent, group sales jumped 30 percent and order intake surged 47 percent compared with third-quarter 2007 totals. The company’s rail infrastructure division reported sales growth of about 36 percent. Fastening system sales jumped 40 percent — primarily because of rail fastener orders in China — and switch system sales increased 30 percent. Motive power and components division sales rose 11 percent on the strength of locomotive and electrical systems business.

Contact Progressive Railroading editorial staff.

More News from 10/30/2008