General Electric confirmed it will merge its transportation business with Wabtec, a U.S. manufacturer of equipment for the rail industry, in a deal valued at about $11.1 billion. GE and its shareholders will own 50.1 percent of the combined company, while Wabtec shareholders will own the rest, the companies said in a statement. Pared back…
Posts published in May 2018
* Unloads parts of transportations unit in $11.1 bln deal * GE to receive $2.9 bln cash upfront * Resulting company to generate $8 bln in revenues * GE, shareholders to have 50.1 pct stake in merged firm (Adds details on the deal, Breakingviews link, updates shares) May 21 (Reuters) - General Electric Co announced…
Rail News Home Federal Legislation & Regulation 5/18/2018 Rail News: Federal Legislation & Regulation Canada commits federal funding for freight-rail projects in British Columbia Canadian Transport Minister Marc Garneau Photo – Transport Canada The Canadian government this week announced federal funding for several projects at the Port of Vancouver and Ashcroft Terminal in British Columbia…
Rail News Home Federal Legislation & Regulation 5/18/2018 Rail News: Federal Legislation & Regulation CN fined for renewable fuels violation CN has pleaded guilty to violating the Canadian Environmental Protection Act and will pay a CA$25,000 fine as well as a CA$1.1 million sum to promote environmental protection, according to a government press release.The violation…
Rail News Home Federal Legislation & Regulation 5/18/2018 Rail News: Federal Legislation & Regulation FTA: Minneapolis' amended Southwest light-rail project meets environmental regs The extension would connect major activity centers in the region. Photo – Eric Wheeler, Metro Transit The Federal Transit Administration (FTA) has determined that the Metropolitan Council's proposed changes to the Southwest…
The unit was rolled off a truck and moved inside the streetcar system's operations and maintenance facility. Photo – thehopmke.com The city of Milwaukee earlier this week took delivery of its second streetcar vehicle from Brookville Equipment Corp. The 83,000-pound vehicle traveled via truck from the company's plant in Brookville, Pennsylvania, to Milwaukee. The unit…
Rail News Home Federal Legislation & Regulation 5/16/2018 Rail News: Federal Legislation & Regulation FRA announces $250 million in PTC grants "The FRA will continue to work with railroads and suppliers to assist in fully implementing PTC," said Federal Railroad Administrator Ronald Batory. Photo – fra.dot.gov The Federal Railroad Administration (FRA) yesterday issued a notice of funding opportunity…
(Adds background, details from Transport Minister) LONDON, May 16 (Reuters) - The British government is renationalising the rail route between London and Edinburgh, taking back the line from private operator Stagecoach after the company over-estimated the profits it could make on the route. It is the third time since 2007 that the 393-mile (632 km)…
Duos Technologies Group Inc. has obtained a "multimillion-dollar" contract with CN to provide the Class I with high-resolution train imaging systems for security and mechanical inspection.The award includes four complete rail inspection portals and deployment of Duos' first commercial thermal undercarriage inspection system, which recently was beta-tested at the rail-testing facility in Pueblo, Colorado, Duos…
Rail News Home Federal Legislation & Regulation 5/15/2018 Rail News: Federal Legislation & Regulation Durbin asks FRA to address Amtrak on-time performance issues Sen. Dick Durbin (D-Ill.) Photo – Durbin's website U.S. Sen. Dick Durbin (D-Ill.) has asked Federal Railroad Administrator Ronald Batory to work with freight railroads around the Chicago area to ensure Amtrak's…