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Railway supply industry news round-up

13 Oct 2017

GE Transportation announced on October 7 that Chief Executive Officer Jamie Miller is to become GE's Chief Financial Officer from November 1. Global Services leader Pascal Schweitzer will be acting CEO of GE Transportation until Miller’s successor is named.

On October 9 leasing company Angel Trains announced that £100m of new junior debt had been signed after being directly arranged with lenders. The proceeds will be used for general corporate purposes including funding committed portfolio investments. ‘This represents an effective funding arrangement which will provide further liquidity to support new business’, said CFO Alan Lowe. ‘In particular, we are delighted that the lenders have participated in subordinated debt and that the transaction demonstrates the high level of confidence which the financing community has in the Angel Trains Group.’

Ukrainian legal and financial advisory services company Redcliffe Partners has joined the Rail Working Group and its Country Contact Group. RWG said Redcliffe Partners’ involvement in a recent court case relating to enforcement against a large pool of wagons mades its experience ‘unique for promoting the Luxembourg Rail Protocol in Ukraine.‘

Colas Rail has opened an office in Singapore.

Morgan Sindall Group‘s BakerHicks business has opened a dedicated rail office at Derby in the UK offering electrification installation and renewal design services.

Keolis and Famoco are to test a next-generation ticket validator at Orléans in France. This would be able to read a smartphone ticket using barcodes or NFC, as well as validate existing smart cards. ‘Our partnership with Famoco is an important milestone in our PlanBookTicket digital strategy’, said Keolis’ Executive Director of Marketing, Innovation & Services Laurent Kocher.

Unipart Rail has been certified by the UK’s Railway Industry Supplier Approval Scheme, becoming the first company certified under the S02 module that covers Products Groups Procurement, Storage & Transport Processes.