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Rail News: Railroading Supplier Spotlight
Rail supplier news from STV, Cad Railway, WSP and VTG (July 17)
STV is providing engineering and design services for the second section of the Los Angeles County Metropolitan Transportation Authority's (Metro) Purple Line subway extension. Two boring machines will soon begin work on the project, STV officials said in a press release. Working as part of the design-build team led by Tutor Perini and O&G Industries, STV is serving as the engineer of record and principal design firm for the 2.6-mile segment. The firm's services include designing the Beverly Hills and Century City stations, along with the running tunnels. The entire $6.3 billion Purple Line extension will run 9.1 miles from LA's Koreatown to Westwood.
Cad Railway Industries has hired Michael Obertop as senior vice president of sales, marketing and business development. He most recently served as senior VP of sales and marketing for GBW Railcar Services LLC. Before that, Obertop spent nine years with American Railcar Industries in a variety of roles, including corporate counsel, assistant treasurer and corporate secretary. In total, he has more than 12 years of experience in the rail-car industry, Cad Railway officials said in a press release.
WSP USA served as program manager for the recently launched CTrail Hartford Line commuter-rail route. In that role, WSP helped secure funding and managed the design, construction and service planning for the eight-year, $769 million line, which runs from New Haven, Connecticut, to Springfield, Massachusetts. STV worked as a subconsultant to WSP on the project.
Warwick Holding GmbH has decided to make a voluntary public takeover offer to all shareholders of VTG Aktiengesellschaft at 53 Euros per share. The bidder, Kühne Holding AG, is "irrevocably committed" to tender the shares it currently holds in connection with the takeover offer, according to a VTG press release. However, the announced takeover hasn't been agreed upon by VTG officials. In their view, the offer doesn't "reflect the fundamental value of VTG Aktiengesellschaft considering its future potential." As a result, the company's board isn't able to recommend to that its shareholders accept the offer at 53 Euros per share, VTG officials said. Warwick Holding is an indirect subsidiary of funds advised by Morgan Stanley Infrastructure Inc., which holds 29 percent of the shares in VTG.
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