Hedge fund to acquire carbuilder ARI

Amid a surging market for new railcars, American Railcar Industries agreed to sell itself back to a group led by its former founder and CEO at a premium more than 50% above its share price.

AllTranstek expands services

AllTranstek L.L.C. has added Tax & Audit Services to its fleet management offerings, and has named industry veteran John Hoyt as Manager of the newly created service. The company said it created the new service “to respond to the growing demand for assistance in the highly specialized areas of monitoring tax code changes, ad valorem tax compliance and assessment reviews.”

Buff? Draft? CN rolls out centerbeams with new energy management tech

A fleet of new centerbeam cars are being deployed by CN, with patented energy management technology designed to reduce train separations in transit.

Railcar market recovery remains intact: Cowen

Cowen and Company’s 3Q18 rail equipment survey indicates that the railcar market recovery remains intact, even though the survey’s results were “somewhat mixed,” according to analyst Matt Elkott. The percentage of shippers planning to order railcars “inched up very slightly, while order sizes decreased a bit. We expect strong 3Q18 orders, driven partly by crude tank car and intermodal equipment demand.”

CIT sells European rail unit

CIT Group Inc. has completed the sale of NACCO, its European rail leasing business, in two separate transactions: to German-based VTG Aktiengesellschaft (VTG), and to a consortium of WASCOSA AG and a subsidiary of Aves One AG. Net proceeds were $1.1 billion, based on current exchange rates, and included approximately $1.2 billion in assets, which resulted in a modest pre-tax gain, CIT said.

Railway Interchange 2019 open for business

Exhibit space and sponsorships are now open for sale at Railway Interchange 2019, the largest railway exhibition and technical conference in North America. Indoor and outdoor exhibits will be available at the Minneapolis Convention Center and BNSF Railway’s Northtown yard, respectively. Exhibits will be open September 22-24.

Rail supply industry contributed $74.2B to GDP

A new report from Oxford Economics has found that the railway supply industry’s total contribution to U.S. gross domestic product (GDP) in 2017 was $74.2 billion, which highlights the industry’s significant economic impact, said industry stakeholders.

Aurizon taps Trimble for analytics

Aurizon, Australia’s largest rail freight operator, has contracted with Sunnyvale, Calif.-based Trimble Rail Solutions for the company’s R2M remote diagnostic and P2M planning and performance management systems.

Canada revises tank car phase-outs

Transport Canada on Sept. 19 issued Protective Direction 39, which accelerates phase-out of non-jacketed (no thermal layer of protection) CPC-1232 tank cars for crude oil service as of Nov. 1, 2018, 17 months earlier than originally mandated. In addition, non-jacketed CPC-1232 and older DOT-111 tank cars will be prohibited from transporting condensates as of Jan. 1, 2019, more than six years ahead of schedule.

Ermewa Group selects Amsted Digital Solutions for telematics

Ermewa Group, a European lessor of industrial railcars and tank containers, has contracted with Amsted Digital Solutions for an end-to-end telematics platform for Ermewa’s digitalization initiatives.

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