“We view concerns around Kansas City Southern’s concession in Mexico as overblown. The exclusivity provision cannot be revisited until 2027 and the concession remains in effect for 20 years after that. Further, KSU is improving its operations via PSR, which should aid Mexico as reliable rail service is likely to be a necessity for the country as it grows its manufacturing base. Reiterate Outperform.”
Steven L. Beal, 46, President and CEO of National Railway Equipment (NRE), died Saturday, July 11, at his home in Ladue, Mo..
“Order expectations by the shipper sub-group of railcar buyers were mixed. While a smaller percentage expects to order railcars, the certainty level about ordering has increased. Among railcar suppliers, we favor Trinity for the flexibility of its manufacturing/leasing model, and Greenbrier for its international diversification and cost cutting. GATX’s lease terms offer it some protection.”
The Greenbrier Companies, Inc., in its third fiscal quarter ended May 31, 2020, achieved its $1 billion liquidity target and generated operating cash flow in excess of $220 million, with a backlog of an estimated value of $2.7 billion. Concurrently, the company reported that Bill Furman will remain as Chairman and CEO for another two years.
Railroad Financial Corporation (RFC) recently hired Roger Kelly as a Vice President.
After just over two years at the helm, Railway Supply Institute (RSI) President Mike O’Malley is leaving the organization at the end of July. O’Malley, who has served as RSI’s leader since early 2018, is “pursuing an opportunity with a corporation outside the Washington, D.C. area,” RSI said in an announcement. O’Malley joined the organization after serving in a government relations capacity with CSX.
Kerstin Schulz, Show Director of InnoTrans, discusses the transition of InnoTrans 2020 to InnoTrans 2021, as well as the new elements that will be debuting at its next gathering, with Railway Age Editor-in-Chief William C. Vantuono.
Kansas City Southern on July 1 implemented several organizational changes “designed to further support the company’s ongoing Precision Scheduled Railroading (PSR) strategy and provide development opportunities for several KCS leaders.”
CN has announced that it will invest C$540 million (US$394.3 million) in its infrastructure in the provinces of Alberta and Quebec.
After completing customization work to meet the 1,525mm gauge requirements at Tulomsas in Turkey, Wabtec has delivered the first two of nine PowerHaul locomotives to Operail in Finland. They’re undergoing testing and certification, after which they’ll be able to go into service.