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Rail News: Rail Industry Trends
1/30/2009
Rail News: Rail Industry Trends
Updates from Trinity, Advanced Rail Management, Interpipe, Timken, Harsco and BNSF Logistics
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• As a result of declining rail-car demand, Trinity Industries Inc. has idled or is in the process of idling four car manufacturing facilities in Missouri, Oklahoma and Texas. The company also has reduced its workforce at other plants in Georgia, Texas and Mexico. Trinity expects to deliver 6,000 to 7,000 cars in the first half. The company, which obtained orders for 1,180 cars and delivered 7,050 cars in the fourth quarter, also will defer the investment of $800 million in building 10,000 cars for multiple ethanol industry lessees that were scheduled for delivery to Trinity's leasing company in 2010 and 2011. On Dec. 31, the company’s order backlog stood at 8,260 cars valued at $720 million.
• Advanced Rail Management Corp. (ARM) obtained a five-year contract from the San Diego Trolley Transit system for turnkey rail/wheel optimization services. The contract covers the investigation of existing rail/wheel conditions, analysis of the current rail/wheel profiling strategy, design of optimized rail/wheel profiles and supervision of all related work. ARM will measure and provide reports on track and vehicle conditions before and after corrective measures are implemented. The company also will assess rail/wheel lifecycle projections, energy conservation, noise abatement and ride quality.
• Rail wheel and steel pipe supplier Interpipe has appointed Duncan Pell commercial director. He will be responsible for the company’s pricing policy, coordinating sales activities and handling commercial risk management. Most recently a commercial director for Corus Group, Pell has more than 30 years of steel industry experience.
• The Timken Co. reported 2008 sales of $5.7 billion, up 8 percent compared with 2007 sales. Income from continuing operations totaled $267.7 million vs. $219.4 million in 2007. However, fourth-quarter sales fell 10 percent to $1.2 billion. Timken also reported a fourth-quarter loss from continuing operations of 38 cents per diluted share compared with income of 50 cents per diluted share in fourth-quarter 2007.
• Harsco Corp. reported that Harsco Minerals & Rail’s fourth-quarter sales totaled $205 million, up 12 percent compared with fourth-quarter 2007 sales. However, operating income fell from $29.9 million to $23.9 million. Harsco Rail posted strong performance with higher quarterly sales and income as the unit began to deliver equipment under an order from China's Ministry of Railways, Harsco said.
• Lowe's Cos. Inc. has named BNSF Logistics L.L.C. the 2008 "New Store Van Carrier of the Year." A BNSF Railway Co. subsidiary, BNSF Logistics provides capacity and transportation management services for Lowe's new store construction and fixture programs. The award recognizes the company’s efforts to meet Lowe’s high service expectations, according to BNSF Logistics.
• Advanced Rail Management Corp. (ARM) obtained a five-year contract from the San Diego Trolley Transit system for turnkey rail/wheel optimization services. The contract covers the investigation of existing rail/wheel conditions, analysis of the current rail/wheel profiling strategy, design of optimized rail/wheel profiles and supervision of all related work. ARM will measure and provide reports on track and vehicle conditions before and after corrective measures are implemented. The company also will assess rail/wheel lifecycle projections, energy conservation, noise abatement and ride quality.
• Rail wheel and steel pipe supplier Interpipe has appointed Duncan Pell commercial director. He will be responsible for the company’s pricing policy, coordinating sales activities and handling commercial risk management. Most recently a commercial director for Corus Group, Pell has more than 30 years of steel industry experience.
• The Timken Co. reported 2008 sales of $5.7 billion, up 8 percent compared with 2007 sales. Income from continuing operations totaled $267.7 million vs. $219.4 million in 2007. However, fourth-quarter sales fell 10 percent to $1.2 billion. Timken also reported a fourth-quarter loss from continuing operations of 38 cents per diluted share compared with income of 50 cents per diluted share in fourth-quarter 2007.
• Harsco Corp. reported that Harsco Minerals & Rail’s fourth-quarter sales totaled $205 million, up 12 percent compared with fourth-quarter 2007 sales. However, operating income fell from $29.9 million to $23.9 million. Harsco Rail posted strong performance with higher quarterly sales and income as the unit began to deliver equipment under an order from China's Ministry of Railways, Harsco said.
• Lowe's Cos. Inc. has named BNSF Logistics L.L.C. the 2008 "New Store Van Carrier of the Year." A BNSF Railway Co. subsidiary, BNSF Logistics provides capacity and transportation management services for Lowe's new store construction and fixture programs. The award recognizes the company’s efforts to meet Lowe’s high service expectations, according to BNSF Logistics.
