Breaking News

Duos: “We Ended the Year on a High Note”

Duos Technologies Group, Inc. reported financial results for the fourth quarter and full year ended Dec. 31, 2019. In doing so it noted that its total revenue increased 125% to $5.75 million, compared to $2.56 million in the same quarterly period, and its gross profit increased 176% to $3.15 million (55% of total revenue) compared to $1.14 million (45% of total revenue) in the same quarterly period last year.

Stonepeak Acquires TRAC Intermodal

Stonepeak Infrastructure Partners has completed the previously announced transaction to acquire TRAC Intermodal and its subsidiaries from investment funds managed by an affiliate of Fortress Investment Group LLC on March 27, 2020.

APTA: CARES Act Provides $25 Billion, With Conditions

President Trump on March 27 signed H.R. 748, the Coronavirus Aid, Relief and Economic Security (CARES) Act (or Title XII of Division B), into law, following swift passage in the House of Representatives by voice vote, and one day after the U.S. Senate passed the bill in a unanimous 96-0 vote. The CARES Act is a $2 trillion stimulus package that addresses the devastating economic and societal impacts of the COVID-19 pandemic. It includes many funding measures that directly benefit the railway industry—all modes, freight and passenger. In the bill is approximately $25 billion for public transportation. Distribution of the funds is rather complex, and APTA (American Public Transportation Association), which took the lead in working with Congress on the bill’s transit provisions, provided an explanation to its members.

Ottawa LRT Earns National Recognition Award

The joint venture of STV, AECOM, Morrison Hershfield and McMillen Jabobs Associates, of Ottawa, has earned a National Recognition Award for exemplary engineering achievement in the American Council of Engineering Companies’ (ACEC) 53rd annual Engineering Excellence Awards (EEA) for designing Stage 1 of the OCTranspo Confederation Line.

Trinity Realigns Senior Execs

Trinity Industries, Inc. realigned responsibilities for some of its most senior executives, effective April 1, 2020. Specifically, Eric R. Marchetto has been appointed Chief Financial Officer, and W. Relle Howard, currently Vice President and Chief Administrative Officer, will return to his previous role as Chief Information Officer.