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Rail News: Railroading Supplier Spotlight
Rail supplier news from DCLI, Milwaukee Composites, Greenbrier and WSP USA (Oct. 27)
Direct ChassisLink Inc. (DCLI) has agreed to acquire TRAC Intermodal's fleet of 72,000 53-foot domestic chassis, along with related customer and hosting contracts with Class Is and intermodal shipping companies throughout the United States. The transaction is expected to close in January 2018, DCLI officials said in a press release. Financial terms of the deal were not disclosed. After the acquisition is completed, DCLI will own, lease or manage 136,000 marine chassis, as well as 80,0000 domestic chassis. Through its REZ-1 asset management platform, the company manages more than 86,000 domestic intermodal containers for third parties.
Milwaukee Mayor Tom Barrett yesterday toured Milwaukee Composites Inc.'s plant to observe workers put the finishing touches on flooring the firm is manufacturing and donating for the Milwaukee Streetcar's first five vehicles. Valued at $100,000, the flooring will be shipped to Pennsylvania-based Brookville Equipment Corp., which is manufacturing the streetcars. Milwaukee Composites' subflooring eventually will be covered with decorative floor covering. Brookville is expected to deliver the first completed streetcar to Milwaukee in early 2018. Milwaukee Composites designs and manufactures patented phenolic composite floors and doors for mass transit vehicles throughout the world.
The Greenbrier Cos. Inc. reported net income of $23.7 million, or 75 cents per diluted share, for its fourth quarter that ended Aug. 31. That compares to net earnings of $33.6 million, or $1.06 per diluted share, for the same period in the prior fiscal year. The company logged Q4 revenue of $611.4 million versus $595.2 million in the same quarter of 2016. During all of FY2017, Greenbrier received orders for more than 16,500 rail cars valued at $1.5 billion, which is double the number and value of rail-car orders received in FY2016, said Greenbrier Chairman and Chief Executive Officer William Furman in a press release. Total net earnings for FY2017 were $116.1 million, or $3.65 per diluted share, compared with $183.2 million, or $5.73 per diluted share, last year.
WSP USA has hired Brian Kim as a supervising engineer in its Minneapolis office. Kim will serve as a project manager on highway and transit projects, and lead the expansion of the civil design practice in Minnesota. He joins WSP from a national engineering firm where he served as task lead for systemwide electrical on a $1.6 billion light-rail project, according to a company press release.
Contact Progressive Railroading editorial staff.