Wabtec Corporation has completed its merger with GE Transportation. The combined company, which is expected to boast revenues greater than $8 billion in 2019, has a compelling growth profile—especially as market conditions improve in its industries. Wabtec announced the transaction completion at the same time as its 4Q18 and full-year 2018 financials.
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).
Amtrak will acquire 75 new Siemens Charger diesel locomotives for $850 million to replace aging power in its National Network locomotive fleet.
Nothing says fundamental transformation quite like Norfolk Southern’s new Network Operations Center, a murmuring, windowless bunker where the Class I has aggregated its dispatching in downtown Atlanta.
Moldovan Railways (CFM) has ordered 12 GE Transportation Evolution Series TE33AC locomotives, along with parts, training and services. This is the first locomotive order in Moldova for GE Transportation, as the country seeks to upgrade its existing fleet to haul freight trains that primarily carry grain and ore, as well as passenger trains.
An all-new battery-powered electric locomotive highlights a list of low-emissions projects to be implemented by BNSF in Central California.
GE Transportation has joined with Roy Hill, Australia’s single-largest iron ore mine, and Hancock Prospecting to support breast cancer treatment and research with two new ES44ACi locomotives and 130 China Railway Rolling Stock Corporation (CRRC)-built ore cars painted in a bright pink livery. The equipment, unveiled during an event at Roy Hill’s Port Hedland rail terminal, joins Roy Hill’s existing fleet of 21 GE-powered unit trains.
Growing freight traffic has led Iowa Interstate Railroad to order three new Evolution™ Series locomotives from GE Transportation.
Wabtec Corp. today said it is progressing with its proposed merger with GE Transportation and filed a proxy statement with the SEC.
CN has added 60 units to its initial 200-unit order of GE Transportation Tier 4 Evolution™ Series locomotives placed in December 2017. All the CN locomotives are being produced at the GE Manufacturing Solutions facility in Fort Worth, Tex.