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GE signs MOU for Kazakhstan diesel plant
Erie, Pa.-based GE Transportation on Wednesday said it has signed a Memorandum of Understanding with TransMashDiesel and JSC National Company Kazakhstan Temir Zholy (KTZ) to establish a diesel engine manufacturing…
GATX unit will lease railcars in India
GATX Corp. announced Tuesday that its subsidiary, GATX India Private Limited (GIPL), has entered the Indian marketplace with the purchase of 450 container flat cars.
Alstom absorbs DB share of joint venture
Alstom said Tuesday it and DB Mobility Network Logistics AG have signed a contract for the takeover of the 49% stake held by DB Mobility Network Logistics AG in the…
CP turnaround: How soon, how strong?
Now that Canadian Pacific Railway is under new management, how soon can shareholders expect to reap the rewards promised hedge fund investor William Ackman during a long proxy fight?
LRIW announces 2012 scholarship
The League of Railway Industry Women (LRIW) announced its 2012 College Scholarship Program, which will award three separate scholarships to well-qualified students.
Wall Street rewards CP stock
Investors on Wall Street, watching events at Canadian Pacific carefully throughout the week, continued to reward the company Thursday for its apparent—and now affirmed—shakeup of CP's Board of Directors.
CP’s Green, five directors step down from Board
In a sweeping move, Canadian Pacific early Thursday announced not only the departure of President and CEO Fred Green—a move widely expected—but also the declaration of six existing directors not…
CP in the time of E. Hunter Harrison
As this is written, much of the railroad world awaits the Thursday, May 17, vote by Canadian Pacific share owners. Early book betting says that insurgent hedge fund Pershing Square…
FRA notes Downeaster expansion milestone
Amtrak's Downeaster expansion reached a milestone Monday with the official completion of new station platforms in Brunswick and Freeport, Me., which have not seen passenger rail service since 1959.
L.B. Foster selling securement unit
L.B. Foster Co., an infrastructure products supplier, announced Monday that the will sell its railway securement business in a transaction scheduled for completion at mid-year.
New Jersey: “Fair share” OK for Gateway Tunnel
Amtrak's Gateway Tunnel project, designed to add rail capacity on the Northeast Corridor under the Hudson River, will get its "fair share" of fiscal support from New Jersey, the state's…
Investment firm acquires Patriot Rail Corp.
San Francisco-based SteelRiver Infrastructure Partners, an independent investment management firm, said Tuesday it will acquire 100% of the capital stock of Patriot Rail Corp. The firm will make the purchase…
FreightCar America deliveries and earnings soar
FreightCar America delivered 2,613 freight cars in the first quarter of 2012, compared with 875 in the first quarter of 2011 and 2,489 in the fourth quarter of 2011. New orders…
Fitch cites railroad challenges—and strengths
Fitch Ratings says it views "weak year-to-date rail volume trends as a reflection of fundamental shifts in demand patterns for key industrial commodities as domestic production of unconventional oil and gas resources continues…
BNSF 1Q earnings rise despite “traumatized” coal markets
Berkshire Hathaway reported at its annual meeting that first-quarter earnings included $701 million from BNSF Railway compared with $607 million in the year-earlier quarter, as rising shipments of manufactured foods made…
Austin MetroRail: The Little Train That Can, and Does
It's been a hard climb, but Austin's relatively small MetroRail transit service—built and operated since March 2010 by Capital Metro—is finally starting to prove its worth.
Whitmore acquires QHi Rail Ltd.
Rockwall, Tex.-based Whitmore Manufacturing Co., a producer of component protection technology, announced Monday it has acquired QHi Rail Ltd., a British-based manufacturer of gauge face and Top of the Rail…
Wabtec wins Australia locomotive order
Wabtec Corp's MotivePower subsidiary will build 10 locomotives for CFCLA Rail JV Pty Ltd., a joint venture of CFCL Australia Pty. Ltd. and Marubeni Corp. of Tokyo, the company announced Tuesday.
L.B. Foster sales and backlog grow
L.B. Foster Co., which supplies and distributes products and services for rail, construction, energy, and utility markets, has reported net income of $3.4 million or 33 cents per diluted share,…
GWI 1Q net income rises modestly
Genesee & Wyoming Inc. early Tuesday reported net income in the first quarter of 2012 of $22.2 million, up from $22.1 million in the first quarter of 2011. GWI's diluted…
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