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Trinity Industries Inc.'s newly formed subsidiary TrinityRail Asset Management Co. L.L.C. (TRAMCo) has entered into a strategic alliance with Element Financial Corp. to develop a diversified portfolio of up to $2 billion worth of leased rail cars. Terms call for Element to acquire a portfolio of leased cars, primarily consisting of new rail cars manufactured by Trinity Rail Group L.L.C., existing cars from Trinity Industries Leasing Co., and secondary market purchases identified by TRAMCo and Element. Trinity Industries Leasing will act as servicer of the Element-owned leased fleet and receive fees accordingly, Trinity officials said in press release.The Passenger Rail Agency of South Africa has commissioned Siemens Mobility to provide new signaling systems and overall train protection systems for the Johannesburg and Pretoria regions. The order is valued at an estimated $247.8 million. The equipment installation is slated for completion in 2018.Holland LP has appointed Chris Smitka regional sales manager in Kansas City, where he will oversee the Union Pacific Railroad account. He has more than 20 years of experience in the railroad industry.The Canadian Association of Railway Suppliers last week elected the following to its board: Laurent de Français, vice president of transportation systems, SNC-Lavalin Infrastructure and Construction, Transport, Infrastructure and Buildings Division; Tom DeJoseph, vice president of marketing, Loram Maintenance of Way Inc.; Jason Tillmanns, director of specialty components and fabricated parts, supply management at National Steel Car; and Lisa Tuningley, president of T-Rail Products. The board also elected Bill Thompson of Timken Canada as president.
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