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Rail News Home Financials


Rail News: Financials

Updates from Wabtec, Salco Products, LAP GmbH, Olsson Associates and Kelso Technologies


• Wabtec Corp. reported third-quarter sales totaled a record $396 million, up 12 percent compared with third-quarter 2007 sales. Income from operations jumped 15 percent to $52.5 million, or 13.2 percent of sales, vs. $45.8 million, or 12.9 percent of sales, a year ago. Earnings per diluted share rose 24 percent to 68 cents.

• Salco Products Inc. has become Girard Equipment Inc.’s exclusive rail market distributor for its pressure-relief valves and components. Salco will inventory Girard valves and parts, and help establish market interest within the rail industry for Girard’s valves and related components, which are widely used by the tank trailer industry, Salco said. Girard’s pressure-relief valve is approved for use by the Association of American Railroads (AAR) and is available in AAR-recommended pressure settings. Salco provides plastic and metal components to the freight transportation industries.

• In conjunction with Polish firm Graw, LAP GmbH has developed a new system designed to inspect wheels, wheel sets and track vehicle running gear. In operation since early 2007 at PKP Intercity in Warsaw, the laser-based system now is sold in Germany by LAP GmbH Laser Applikationen. The system measures the profile of wheel tyres and flanges, the wheel diameter and running gear geometry.

• Engineering firm Olsson Associates has appointed Ken Jennison senior engineer. He will lead the firm’s bridge/structural services for railroad clients, as well as public sector entities on grade separation projects. Jennison has more than 30 years’ experience in railroad bridge design and rating, and construction-phase services. He previously managed a $75 million to $100 million annual bridge construction program while serving as bridge engineer for BNSF Railway Co.

• Kelso Technologies Inc. obtained an order to provide pressure-relief vales for 60 stainless-steel tank cars, which will be built by a major tank-car builder in the next few months for a large chemical producer. Kelso also won a contract to provide pressure-relief valves for the start of a tank-car retrofit program involving more than 400 liquid caustic soda-carrying cars owned by a major chemical producer. In addition, a number of new tank cars will be built in 2009 for the producer, representing an additional sales opportunity, Kelso said.

Contact Progressive Railroading editorial staff.

More News from 10/22/2008