GE Transportation’s Contagem, Brazil, locomotive assembly plant is operating with a mixed-model moving assembly line, which GE calls “a new approach to manufacturing locomotives.”
GE Transportation has signed two contracts valued at more than $900 million with Kazakhstan’s state-run railroad Kazakhstan Temir Zholy (KTZ)—the company’s largest international rail customer—for 300 switcher locomotives and an 18-year service agreement to manage maintenance and repair of 175 Evolution™ Series passenger locomotives.
CN will acquire 200 new locomotives over the next three years from GE Transportation—the General Electric division that CEO John Flannery recently said would be sold off because it is a business “that drains investment and management resources without the prospects for a substantial reward.”
Monday the 13th at General Electric: The 125-year-old corporation, among the world’s oldest, announced a massive, aggressive downsizing and restructuring, a reduced dividend, and an in-the-works divestiture of its storied Transportation division, one of the world’s largest, most successful builders of railway locomotives.
General Electric announced that Rafael Santana, president and Chief Executive of GE Latin America, has been named president and CEO of GE Transportation, effective November 1.
The first of 1,000 GE Transportation diesel-electric Evolution Series locomotives for Indian Railways (IR) arrived at India’s Mundra Port on Oct. 11. The ES43ACmi is the first locomotive running on IR that complies with UIC1, the international emissions standard established by the International Union of Railways (Union Internationale des Chemins de fer).
Amid a tumbling stock price and accelerated cost-cutting, General Electric has named Jamie Miller, President and CEO of locomotive manufacturer GE Transportation, as Chief Financial Officer. Miller succeeds Jeffrey S. Bornstein, who also served as Vice Chair. He will depart GE as of Dec. 31 after 28 years at the company.