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.
Rajant Corp., a provider of mobile wireless mesh networks, has entered into a strategic partnership with Wabtec Corp. to jointly develop and market Rajant’s Kinetic Mesh® wireless networking products to rail operators worldwide. Wabtec has made a minority equity investment in Rajant.
The results of Cowen and Company’s 2Q18 Rail Equipment Survey “are mixed and largely neutral on the balance,” reports Cowen analyst Matt Elkott. “Shippers’ level of certainty about ordering railcars increased, but order sizes decreased.”
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.
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.
The Emery Rail Heritage Trust has awarded $60,000 in grants to Friends of the 261 and the Fort Wayne Railroad Historical Society (FWRHS) to fund Positive Train Control (PTC) on two historic steam locomotives: Milwaukee Road 261 and Nickel Plate Road 765. Each organization will receive $30,000 to launch individual fundraising efforts to cover the estimated $120,000 cost per locomotive for PTC implementation.
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.