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Rail News: Rail Industry Trends

Updates from Alstom, GATX, Greenbrier, Electro-Motive Diesel, Banyan Rail Services and Hunter Capital


• Alstom Transport has been subcontracted by Transdev to maintain the Reims tramway for a 30-year period, beginning as soon as the tram enters service. The $124.4 million contract involves the maintenance of rolling stock and fixed installations and includes routine, preventitive and corrective maintenance, technical support, management of spare-parts stocks for the Citadis tramsets and the implementation of a maintenance program.

• GATX Corp. has named Nicholas Matthews vice president and group executive of rail-car operations. Matthews will be responsible for GATX’s North American rail-car maintenance operations, engineering group, rail-car service centers, field service activities and contract shop operations. Most recently, Matthews was vice president of operations for FreightCar America Inc.

• Greenbrier Cos. has reported second-quarter FY2010 revenue of $200 million, down $87.1 million from second-quarter FY2009 revenue. Net losses for the quarter ending Feb. 28 totaled $4.8 million vs. a net loss of $7.5 million in the year-earlier period. New rail-car deliveries in second-quarter FY2010 totaled 800 units vs. 1,300 units in second-quarter FY2009. The company's new car manufacturing backlog as of Feb. 28 was 4,400 units, with an estimated value of $380 million, compared with 15,100 units valued at $1.31 billion as of Feb. 28, 2009.

• This week, Electro-Motive Diesel Inc. (EMD) is marking five years since the company was spun off from General Motors Corp. in 2005. Since that time, EMD has increased investment in R&D, upgraded its factory equipment, doubled revenues, increased exports, and grown its workforce and supplier base.

• Banyan Rail Services Inc. announced that a previously approved 1-for-10 reverse stock split was completed. The split converts 10 shares of Banyan Rail’s common stock into one share of common stock. Banyan also announced that its subsidiary, The Wood Energy Group Inc., has completed a railroad tie grinding facility in Shreveport, La. and obtained an agreement from Kansas City Southern Railway Inc. to receive reclaimed ties at the new Shreveport plant.

• Las Vegas Railway Express Inc. has appointed Hunter Capital Group L.L.C. as its financial advisor for the development of the X Train as part of an ongoing effort to finance the rail service project between Los Angeles and Las Vegas.

Contact Progressive Railroading editorial staff.

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