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Rail News: Rail Industry Trends

Updates from Perella Weinberg, Bombardier, GATX, Granite Construction, Axion and Gannett Fleming


• An affiliate of Perella Weinberg Partners’ Asset Based Value strategy has obtained a definitive agreement to acquire AIG Rail Services Inc. The agreement calls for Asset Based Value strategy funds to form a new entity that will purchase and manage AIG Rail Services Inc., which will be converted into a limited liability company operating under the name Flagship Rail Services L.L.C. Eugene Henneberry, AIG Rail Services’ president and chief executive officer, and the company’s management team will continue to operate the business. When the acquisition is completed in the second quarter, Asset Based Value strategy will own more than 10,000 rail cars in North America, making it the continent’s ninth-largest rail-car leasing company, according to Perella Weinberg Partners.

• Bombardier Transportation and DB Regio AG have agreed to a nine-year contract worth $867 million for 200 Bombardier Traxx diesel locomotives. In addition, DB Regio has ordered the first 20 locomotives for passenger transportation, with the first delivery planned for mid-2013. That order is valued at $90 million.

• GATX Rail Europe has entered the Turkish marketplace with the deployment of newly manufactured railway tank cars. Designed to carry petroleum products, the cars are being produced for GATX in Turkey by R.A.I.L. Tur, Kayseri. BP Turkey will use the cars to move refined products on the Turkish Railway TCDD’s network.

• Granite Construction Inc. has won a $41 million rail relocation project in Sacramento, Calif. The rail yards project includes relocating 2.3 miles of heavy rail, major utility infrastructure and site improvements, construction of access tunnels for pedestrians and service vehicles, and new tracks and platforms. The project is part of a 245-acre redevelopment designed to connect downtown Sacramento with other residential and commercial development plans. Work is slated to begin in May and be completed by December 2012.

• Axion International plans to expand capacity at a plant operated by its manufacturing partner, Ultra-Poly Corp., by early May. The expansion is necessary to accommodate Axion’s growing number of contracts for its recycled plastic products and ties, according to the company. As part of the expansion, the plant will implement longer worker shifts, add two molding machines, and dedicated bale-breakers and grinders to process incoming raw recycled plastic material for Axion.

• Gannett Fleming Engineers & Architects P.C. has received the American Council of Engineering Cos. of New York 2011 Engineering Excellence Award for its role in the rehabilitation of MTA Metro-North Railroad’s Hudson Line stations. The entry received a gold award in the special projects category. The firm’s New York City office provided construction management and support services for work at three stations along the Hudson Line in Westchester County, N.Y.

Contact Progressive Railroading editorial staff.

More News from 4/19/2011