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Rail News: Railroading Supplier Spotlight
Rail supplier news from Tata Steel, Alstom, Liebherr-Transportation, Aon, HDR, GE and Hub Group (Oct. 22)
Tata Steel has obtained a contract to supply rail track and steel sleeper plate to Network Rail, the company that operates and maintains Britain's rail infrastructure. The company has chosen to source more than 95 percent of its rail from Tata Steel until 2019, with options to extend the contract until 2024.
The MF01 metro train built by a consortium of Alstom Transport, Bombardier Transport and Areva TA was inaugurated yesterday on Line 9 in Paris. The first MF01 trainset was unveiled at Porte de Saint-Cloud station. The inauguration represents a milestone in the contract signed by RATP and the consortium, whereby a third option for 66 MF01 units was exercised in 2011, with Alstom heading up project management, component supply and rail-car assemblies.
Liebherr-Transportation Systems will supply heating, ventilation and air conditioning systems for another four of Bombardier Transportation's FLEXITY Classic 6NGTW Series trams under a contract the companies signed in 2012. For each tram, Liebherr will deliver two driver cab units and one saloon unit. The HVAC systems are designed to provide optimal comfort for the driver and passengers, and reduce power consumption and maintenance costs, according to a Liebherr press release.
Aon Risk Solutions has launched the Aon Rail Excess Liability insurance facility, created in response to emerging risks arising out of the Rail Safety Improvement Act of 2008 and the Federal Railroad Administration's requirement that railroads adopt positive train control, Aon officials said in a press release. The new facility will provide up to $175 million of liability insurance to qualified buyers.
Stephen Lipkus has joined HDR Corp. as managing director for Canada. He will be responsible for overseeing and growing the firm's Canadian operations in transportation, natural resources and water. He will based in Ontario. Prior to joining the firm, Lipkus served as executive director for GO Transit's $1.5 billion Georgetown South Project in Toronto.
GE reported that third-quarter net income declined 5 percent to $3.2 billion, or 31 cents per share, compared with third-quarter 2012. Revenue fell 1 percent to $35.7 billion, and operating earnings slipped 3 percent to $3.7 billion, or 36 cents per share, compared with the year-ago quarter. GE Transportation recorded $1.6 billion in orders — a 65 percent increase year over year — driven by locomotive purchases.
Hub Group Inc. reported $18.6 million in net income for the third quarter, a slight uptick over 3Q 2012's $18.5 million. Earnings per share were flat at 50 cents. Revenue rose 10 percent to $883 million from $804.9 million a year ago. Intermodal revenue increased 5 percent to $467 million on a 5 percent increase in volume.
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