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.
Caltrain is trading long-delayed CBOSS for conventional PTC on its commuter rail corridor between San Francisco and San Jose.
Wabtec Corp., in reporting results for its 2017 fourth quarter and full year, and issuing 2018 financial guidance, referred to 2017 as “a year of transition” in which the company “made excellent progress on the Faiveley Transport integration and continued to invest in worldwide growth opportunities,” according to President and CEO Ray Betler.
Wabtec Corporation announced it has signed a contract worth about $62 million to design, install, test and commission Positive Train Control (PTC) for the Central Florida Rail Corridor, which operates the SunRail commuter rail service.
Brazilian logistics company and freight rail operator RUMO has awarded a contract worth about $5 million to Wabtec Corp. to design, install, test and commission its Train Management & Dispatching System (TMDS) for wayside signaling interlocking control, training and systems integration at the Port of Santos, São Paulo.