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Rail News: Rail Industry Trends

Updates from Railserve, Strategic Rail Advisors, AECOM, Portec Rail, Pacer, FreightCar America and Avalon Risk Management


• Railserve Inc. has acquired the assets of Ameritrack Railroad Contractors Inc. and Ameritrack West Inc., which provide track construction and maintenance services in the Midwest. The acquired business will operate under the name Ameritrack Rail, a division of Railserve Inc. Ameritrack’s former owners, Ralph and Mike Jackson and Harris and Mike Eldridge, will continue to help manage the business, with Mike Eldridge serving as general manager, according to Railserve.

• Strategic Rail Advisors L.L.C. was chosen by Alderman Railcar Services Inc. to be the exclusive marketing agent for its EZ Lock Lid System in North America. The EZ Lock Lid System is an ARS-designed cover and securement system for gondolas and open-top hopper rail cars.

• AECOM Technology Corp. announced it has agreed to acquire Davis Langdon, a global cost and project management consultancy firm, in a transaction valued at $324 million. The transaction is expected to close in October.

• Portec Rail Inc. reported unaudited net income of $864,000 for the second quarter and net income of $1.3 million for the first half vs. net income of $2.2 million in Q2 2009 and $3.3 million in first-half 2009. Second-quarter net sales jumped 22.2 percent to $32.4 million compared with $26.5 million for the same period in 2009. First-half net sales were up 14.5 percent to $55.8 million.

• Pacer International L.L.C. reported second-quarter revenue of $401 million, up $24.3 million from Q2 2009. The company also posted net income of $1.4 million vs. a loss of $7.3 million in Q2 2009. In addition, income from operations totaled $3.2 million vs. a loss of $11.8 million in second-quarter 2009. Pacer earned intermodal income of $6.7 million compared with a $15.7 million operating loss in the year-ago period.

• FreightCar America Inc. reported second-quarter revenue of $31 million and a net loss of $1.3 million vs. revenue of $104.3 million and net income of $7 million in second-quarter 2009. The company delivered 614 rail cars in Q2, including 160 new and 440 used cars, and 14 cars delivered under leases, vs. 321 cars delivered in first-quarter 2010 and 1,109 cars delivered in second-quarter 2009.

• Deirdre Hudson was named regional vice president for Avalon Risk Management’s San Francisco office. She joined the company in 2002 as an account executive and later served as sales manager.

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