Graham-White Mfg. Co. says it has acquired The Vista Corp., based in Roanoake, Va., a remanufacturing facility for severe-duty locomotive engines.
Greenwich, Conn.-based Genesee & Wyoming Inc. Wednesday reported an 81% increase in fourth-quarter profit compared with the comparable quarter in 2007, helped by higher revenue and an income-tax benefit which boosted earnings per share by about 30 cents. Earnings rose to $25.3 million, or 70 cents per share, from $13.9 million, or 39 cents per share, in the same quarter last year. Revenue rose almost 11% to $149.2 million.
While casting a wary eye on potential customer declines for 2009, Metro-North Railroad has reported anew record of 84 million rides in 2008, its 25th year of operations.Ridership in 2008 was up 3.9% compared with 2007 figures, and includescustomers using the railroad’s connecting ferry and bus services, mostly inWestchester County, N.Y.
Genesee & Wyoming Inc. Tuesday said its January traffic was up 12.2% compared with the comparable month of2008. The increase was attributable in large measure to GWI's rail acquisitions made during 2008, including CAGY Industries, Inc., the Georgia Southwestern Railroad, and the Ohio Central Railroad System.
Milo E. Riverso, Ph.D., P.E., has been named president of STV, Inc., with the company's four operating divisions—Buildings and Facilities, Construction Management, Emerging Markets, and Transportation and Infrastructure—reporting to Riverso.
The MidAmerica Corridor, a new trackage rights agreement between CN and Norfolk Southern, is designed to establish shorter, faster routes for merchandise and coal traffic moving between the Midwest and Southeast.
Automated Railroad Maintenance Systems has signed an agreement with Transtector and PolyPhasor to become their North American rail industry distributor.
The U.S. House and Senate have passed two different versions of aneconomic stimulus package, and a House-Senate Conference Committee is currently in the process of combining both into a single bill that both houses can pass, and send to President Obama for his signature. Both bills contain provisions for the rail industry.
Freight railroads, particularly Class I railroads, deemed responsible for delays to Amtrak passenger trains using their tracks could befined under new authority granted to the Surface Transportation Board.
Norfolk Southern’s 2009 capital spending program, totaling$1.412 billion, is the railroad's second-largest in five years. It is exceeded by 2008’s $1.556 billion, but tops expenditures of $1.341 billion in 2007, $1.178 billion in 2006, and $1.025 billion in 2005.