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.
GE Transportation has completed the first of 1,000 ES43ACmi broad-gauge diesel-electric locomotives for Indian Railways as part of a $2.5 billion order. The Evolution Series locomotive, Indian Railways class WDG4G, sports the railroad’s new paint scheme, a distinctive red and yellow pattern holding special meaning in India, with red and yellow representing “energy” and “freshness,” respectively.
Gary Griswell of GE Transportation was honored with the American Short Line and Regional Railroad Association’s Thomas L. Schlosser Distinguished Service Award.
GE Transportation will provide Pakistan Railways with 20 FDL C20EMP locomotives, a follow-on order to 55 Evolution Series units ordered in 2015, of which 32 are in service.
Brazil’s Vale and GE Transportation have entered into an agreement to install GE’s Trip Optimizer on nearly 114 Vale locomotives in operation across Brazil.