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Rail News: Passenger Rail

Updates from Wabtec, Lovat, Vossloh, Trainyard Tech, TKDA and L.B. Foster


• Wabtec Corp. has completed the acquisition of G&B Specialties Inc. from Global Railway Industries Ltd. for $45.8 million. Wabtec had also signed an agreement to acquire Bach-Simpson Corp. from Global Railway and that acquisition is expected to be completed by Oct. 31. In addition, Wabtec reported sales of $374 million in the second quarter of fiscal-year 2010, up 12 percent and the company’s highest quarterly sales figures since the first fiscal quarter of 2009. As of June 30, Wabtec had cash of $167 million and debt of $403 million.

• Lovat Inc. received a $52.3 million contract from Toronto’s Metrolinx to provide four tunnel boring machines for the Eglinton Crosstown light-rail project. The project is estimated to cost $4.6 billion and is slated for completion by 2020.

• The Vossloh Group reported sales of $894.1 million in the second quarter of fiscal-year 2010, up 14 percent from fiscal Q1. Revenue rose 25 percent to $507.4 million. The rail infrastructure division boosted sales 52.7 percent to $341.6 million. Transportation division sales, however, dropped 8.9 percent to $165.8 million.

• Trainyard Tech L.L.C. received a contract from Indiana Harbor Belt Railroad Co. to install the Classmaster process control system at Blue Island Yard in Hammond, Ind. The order marks the 14th Classmaster system to be installed since its creation in 2003, according to Trainyard Tech.

• Engineering, architecture and planning firm TKDA was chosen as part of a design-build team with Coleman Industrial Construction to complete Mobility First improvements at Amtrak stations in California and Oregon. The work is part of American Recovery and Reinvestment Act of 2009-funded projects designed to rebuild and modernize infrastructure and equipment.

• L.B. Foster Co. reported net income of $6 million in the second quarter of fiscal-year 2010, up 125.8 percent from Q2 in FY2009. Net sales increased 20.3 percent to $119.5 million vs. $99.3 million in the year-ago period. For the first six months of 2010, the company reported net income of $7.7 million vs. net income of $5.7 million for the year-ago period. Net sales for the first half were flat at $201.5 million.  

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More News from 7/29/2010