GE Transportation and Ukrainian Railways on July 9 marked the first GE Evolution Series TE33A locomotive to be built as part of a framework agreement signed in early 2018. It is the first of 30 locomotives that are being built this year in support of the railroad’s effort to upgrade its fleet. “Items of exploration” under the framework agreement include additional locomotives over 10 years, modernization of locomotives in the railway’s legacy fleet, as well as long-term maintenance services.
Analyst Cowen and Co. this week hosted its quarterly rail equipment conference call with expert panelists across the industry spectrum.
Kansas City Southern is powering up ahead of expected growth in North American rail freight.
GE Transportation, in the midst of its acquisition by Wabtec Corp., is introducing new capabilities and features to its EdgeLINC™ Industrial Internet of Things (IIoT) platform, “extending its scalability, device support and deployment options.”
GE Transportation has completed the first of 200 Evolution series diesel-electric locomotives, which it is building at its plant in Fort Worth, Texas, for CN Railway.
The boards of General Electric and Wabtec on May 21, 2018 approved the merger of GE Transportation with Wabtec in a deal worth $11.1 billion. The merger will make Wabtec a Fortune 500 company and a major player in the railway equipment and services market, with operations in more than 50 countries.
Cowen and Company Equity Research Analyst Matt Elkott, who covers the railway supply sector, on May 4 issued a report that looks favorably upon two potential combinations: Trinity and GATX, and Wabtec and GE Transportation.
Reports by Bloomberg of a potential sale of GE Transportation to Wabtec Corp. surfaced late Friday April 20, resulting in Wabtec shares gaining 4.5%. The potential transaction size is $6.8 billion, according to Bloomberg.
FORT WORTH, TEXAS, MARCH 20, 2018: In nine weeks’ time, the GE Manufacturing Solutions (GEMS) one-million-square-foot, 71-acre, 500-employee facility in Fort Worth, Tex., part of the GE Transportation supply chain, can take an aging locomotive and, through a modernization program, upgrade it to state-of-the-art technology.
GE Transportation and the Port of Long Beach, Calif., are collaborating to improve cargo flow at the busiest port complex in North America.