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10/28/2010



Rail News: Rail Industry Trends

Updates from Alstom, Knorr-Bremse, Wabtec and Trinity Industries


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• A consortium comprising Alstom, Transmashholding and Kazakhstan Temir Zholy will supply 295 electric locomotives — 200 "double freight" and 95 passenger units — to Kazakh Railways, according to a prepared statement. The order is worth $1.8 billion. Freight locomotive deliveries will begin in 2012; passenger locomotives, in 2014.

• Knorr-Bremse Italian subsidiary Microelettrica Scientifica S.p.A. acquired Germany's Heine Resistors Gmbh. Terms weren't disclosed. Microelettrica Scientifica designs, develops and produces contactors, switches, protection relays and resistors for railway and industrial applications; Heine Resistors manufactures resistors for drive technology and rail vehicles.

• Wabtec Corp. reported third-quarter sales of $376 million, a 14 percent increase compared with the same 2009 period. Income from operations increased 11 percent to $51 million, or 13.5 percent of sales. "The Freight Group has rebounded strongly this year, even as industry deliveries of new locomotives and freight cars remain well below normal," said Wabtec President and CEO Albert Neupaver in a prepared statement. "Transit Group results are lower than last year due in part to the completion of major contracts, as well as project delays and budget constraints at municipal transit authorities." As of Sept. 30, the value of Wabtec's total backlog was $1.04 billion, including a $115 million contract to build 20 passenger locomotives for the Massachusetts Bay Transportation Authority. The locomotives are scheduled to be delivered in 2012-2013.

• Trinity Industries Inc. reported third quarter net income of $29.7 million, a 28 percent increase compared with net income recorded for the same 2009 period. The results included a pre-tax gain of $10.2 million related to the disposition of insured property, plant and equipment damaged by a flood at Trinity's barge manufacturing facility in Tennessee last May. The company also reported third-quarter revenue of $540 million, a 3.1 percent decrease compared with third-quarter 2009 revenue. Trinity Industries' Rail Group posted revenue of $131 million, a 21.8 percent decrease compared third-quarter 2009 revenue. The Rail Group also posted a third-quarter operating profit of $3.3 million compared with an operating loss of $12 million during the same 2009 period. During the quarter, TrinityRail® shipped about 1,140 rail cars and received orders for about 2,010 cars. As of Sept. 30, the value of TrinityRail’s order backlog was about $388 million, representing some 4,860 cars, compared with a backlog with a value of about $300 million, or about 3,990 cars, as of June 30. 



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