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RAIL EMPLOYMENT



Rail News Home Rail Industry Trends

11/16/2010



Rail News: Rail Industry Trends

Updates from GATX, Hulcher Services, Professional Transportation, Gaspesie Diesel, Cattron Group and VR Mergers & Acquisitions


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• GATX Corp. acquired a fleet of more than 2,500 freight cars valued at $150 million from a financial institution that "recently foreclosed" on part of another rail-car lessor's fleet, according to a prepared statement. “Throughout the downturn, GATX selectively pursued opportunities to acquire quality rail cars from distressed sellers or those looking to exit the rail-car leasing business,” said President and Chief Executive Officer Brian Kenney. ‘This acquisition, coupled with our previously announced fleet acquisition from Allco Finance Group Ltd. and our recent investment in Adler Funding L.L.C., reflects this strategy.”

• Hulcher Services Inc. recently opened a new full-service division in Montreal. The division provides railroad services, engineering work, transfer and load adjustments, and industrial, snow removal, flood control and emergency/disaster response services. The division is Hulcher's second in Canada; the firm has a full-service operation in Toronto. Hulcher now operates in 38 North American locations.

• Professional Transportation Inc. (PTI) received new two crew transportation service unit contracts from Union Pacific Railroad. PTI now serves five UP service units. “With these new territories” — North Little Rock, Ark., and Fort Worth, Texas — “we will need to grow our business by adding 22 new branch locations, approximately 90 additional fleet vans and an estimated 300 employees that will bring our staff total to 3,200,” said PTI Vice President Steve McClellan in a prepared statement.

• Gaspésie Diesel obtained a $600,000 contract from VIA Rail Canada Inc. to repair two passenger cars. The company will repair the body structure of a coach and skyline (dome) car, and revamp ventilation, electrical and water supply systems.

• Cattron Group International Inc. announced that Stacy Liu has joined Cattron Industrial Control Equipment Trade Shanghai Co. Ltd. (CAP) as inside sales engineer. Prior to joining Cattron, Liu held an inside sales position with Sandvik Coromant in China.

• VR Mergers & Acquisitions - St. Louis (VR) has launched a website — www.railsectorcompaniesforsale.com — with the aim of “bringing together online ... buyers and sellers of railroad-related companies,” according to a prepared statement. The site will "interface online" with more than 1,000 small to mid-size capital equity investment firms, as well as "strategic rail buyers," according to the company. It'll also feature VR-authored white papers, reports and studies on the U.S. rail sector.


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