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Rail News: Rail Industry Trends

Updates from ARINC, L.B. Foster, Railserve, CIT and AECOM


• ARINC Inc., as part of a team led by Parsons Corp., has been contracted to provide three key subsystems for Metrolink’s positive train control (PTC) system. ARINC will provide the computer-aided dispatch system with associated employee-in-charge terminals based on the ARINC Advanced Information Management (AIM®) Rail Control software platform; the back office server; and the PTC system's network management system.

• L.B. Foster Co. has announced that its wholly owned subsidiary CXT® Inc. will close its Grand Island, Neb., concrete-tie manufacturing plant. The plant's key customer, Union Pacific Railroad, opted not to renew its tie contract, which expired on Dec. 31, said L.B. Foster President and Chief Executive Officer Stan Hasselbusch in a prepared statement. "As a result, we will be winding down operations at this facility through the year with an expected third-quarter closure," he said.

• Railserve is building two LEAF® GenSet locomotives at its Longview, Texas, plant "in response to rising fuel prices combined with clean air regulations, which have created a demand for GenSets in domestic and international markets," said Railserve Co-President Timothy Benjamin in a prepared statement. Designed for short lines, in-plant switching locations and other industrial service providers, the LEAF features a modular networked control system developed by Alternative Motive Power Systems and field diagnostic capabilities. The GenSet is designed to reduce nitrous oxide emissions by 76 percent and cut fuel consumption by 50 percent compared with conventional switchers, as well as meet federal Tier III 2015 emission standards.

• CIT Group Inc., which emerged from bankruptcy in December 2009, reported net income of $75 million, or 37 cents per diluted share, for the fourth quarter. Net income declined sequentially because of a decrease in interest income, lower gains on asset sales and higher operating expenses, including a $32 million pre-tax restructuring charge, according to the company. Transportation finance pre-tax earnings were $10 million, down from $19 million in the third quarter. Rail fleet utilization, including commitments, increased slightly to more than 94 percent, but that benefit was offset by lower renewal rates, CIT said. For full year 2010, the company reported net income of $517 million, or $2.58 per diluted share.

• AECOM Technology Corp. has announced that its joint venture with Rummler, Klepper & Kahl L.L.P. has obtained an eight-year, $60 million contract from the Maryland Transit Administration. The contract covers program management of major mass transit projects, including the Red and Purple lines and Corridor Cities Transitway light-rail projects, which are in the planning and environmental phases.

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More News from 2/16/2011