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Rail News: Railroading Supplier Spotlight
Rail supplier updates from Lilee, Vossloh, Intellifuel, Motive Power and FreightCar America (Nov. 4)
Lilee Systems announced the deployment of its positive train control (PTC) Systems Management Gateway (SMG) on its third Class I railroad. Built to interoperable train control specifications, Lilee's SMG is designed to provide end-to-end management, diagnostics, and health monitoring of the railroad's PTC and communications networks. The performance of individual assets, such as wayside interface units and 220 MHz radios, can be monitored and trended over time to provide predictive maintenance capabilities and root-cause analysis, Lilee officials said in a press release.
Vossloh AG's board signed a contract for the sale of its rail vehicles business unit to Stadler Rail AG. For the purchase of the activities, Stadler will afford a cash payment of $52.4 million and will take over debt liabilities against Vossloh's rail vehicles unit of $135.3 million. The transaction is still subject to merger control clearances. Completion is targeted for first-quarter 2016, Vossloh officials said in a news release. Vossloh has plans to find a buyer for its locomotives and electrical systems units by the end of 2017, company officials said.
Intellifuel Systems Inc. has named Angela Wisdom and Joel Davies to its sales team. Wisdom, who joined the company in February, brings more than 15 years of expertise in the downstream petroleum industry. Before joining Intellifuel, Wisdom served as director of fuel center sales at FuelQuest and account executive at SolArc Inc. Davies, who joined Intellifuel in April, brings extensive experience in the fuel industry with specialities in supply and logistics, process improvement and return on investment analysis. Prior to joining Intellifuel, Davies served as sales director for WEX Fuel Management and as director of supply and logistics at Fleed Card Fuels.
Motive Power Resources Inc. has named Terry Monaghan vice president of sales. Monaghan has more than 40 years of experience in the rail industry, working primarily with companies such as EMD and GE. He will be working out of the Motive Power Resources corporate office in Minooka, Ill.
For the third quarter, FreightCar America Inc. reported net income of $14.8 million, or $1.20 per diluted share, along with revenue of $241.1 million. For the same period last year, FreightCar America logged net income of $6.4 million, or $0.53 per share, and revenue of $190.3 million.The company's earnings in Q3 2015 include a pre-tax gain of $4.6 million related to the sale of its rail-car repair and maintenance services business completed on Sept. 30 for $20 million in cash.
Contact Progressive Railroading editorial staff.