Finance/Leasing

RailcarRx earns SOC 1 Audit Certification

RailcarRx, Inc., an IT product and service provider to the North American rail industry, has earned SOC 1 (Service Organization Controls) Audit Certification. The audit of RailcarRx’s controls included examination of the company’s data security policy, overall availability of data, monitoring of data processing, business continuity plans and operating environments.

KeyBanc: “Strength beyond our expectations”

Fourth-quarter 2018 freight car order, delivery, and backlog figures compiled by the Railway Supply Institute represent a sustainable longer-term market for carbuilders, according to analysis conducted by Steve Barger, Kenneth Newman and Ryan Mills of KeyBanc Capital Markets. Orders were “strong” at 19,955 cars. Carbuilders delivered 13,462 units. The backlog now stands at 80,223—the highest level since 2Q16.

Wabtec + GE slated for late-February closure; terms modified

Wabtec Corp. and General Electric (GE) announced Jan. 25 that the planned merger of Wabtec and GE Transportation is expected to close by the end of February 2019, “subject to satisfaction or waiver of customary closing conditions.” The two have modified the terms of their merger agreement and have publicly filed S4 and S1 registration statements, respectively, with the U.S. Securities and Exchange Commission (SEC).

Railway Interchange keynote: Vernice “FlyGirl” Armour

Vernice Armour, a motivational speaker who served as America’s first African-American female combat pilot, will give the keynote address at the Railway Interchange 2019 exhibition and technical conference at the Minneapolis Convention Center. Armour will address the general session on Monday, Sept. 23.