All Business articles – Page 10

  • Russian rolling stock group Transmashholding officially inaugurated its first African factory on April 2.
    News

    TMH Africa inaugurates South African plant

    2019-04-04T12:37:08Z

    SOUTH AFRICA: Russian rolling stock group Transmashholding officially inaugurated its first African factory on April 2. The former DCD Rolling Stock plant at Boksburg in Gauteng province was acquired last October by the TMH Africa joint venture of TMH International (70%) and its black economic empowerment partner Mjisa Investments (30%). ...

  • Fabrication of power cars for the RENFE Avril trainsets is getting underway at Talgo's Las Matas plant.
    News

    Talgo committed to UK expansion strategy

    2019-04-03T08:15:00Z

    UK: Planning for the development of a rolling stock manufacturing plant in Scotland and a research facility in northern England is continuing ‘at full pace’, Talgo Group President Carlos de Palacio Oriol told Railway Gazette in Madrid on April 1. Pointing out that Talgo’s two Spanish plants at Las ...

  • PT Inka held a groundbreaking ceremony for a new factory at Banyuwangi in East Java on March 31.
    News

    PT Inka breaks ground at site of rolling stock factory

    2019-04-03T07:00:00Z

    INDONESIA: State-owned rolling stock manufacturer PT Inka held a groundbreaking ceremony for a new factory at Banyuwangi in East Java on March 31. The factory is to be built on an 83 ha site at cost of Rp1·6tr, with opening planned for 2020. It is being designed to have the ...

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    News

    INPP to take full control of BeNEX

    2019-04-01T15:16:48Z

    GERMANY: UK-listed infrastructure investment group International Public Partnerships Ltd is to acquire joint venture partner Hamburger Hochbahn AG’s 51% stake in German rail and bus operator BeNEX GmbH. The signing of the purchase agreement was announced on April 1, and financial close is expected before the end of June 2019. ...

  • Stadler vehicles at InnoTrans 2018.
    News

    Stadler announces IPO details and plans April 12 listing

    2019-03-29T14:56:59Z

    SWITZERLAND: Stadler Rail announced the launch of its initial public offering and published its offering memorandum on March 29. This comes ahead of the start of the bookbuilding process on April 1 and the listing and first day of trading on the SIX Swiss Exchange on April 12. The IPO ...

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    News

    Railway supply industry news round-up

    2019-03-29T06:00:00Z

    Trenitalia has signed an agreement for its tickets to be sold through Chinese travel agency Ctrip ’s online platforms. Kapsch CarrierCom has been appointed as distributor and integrator of 3Binfra ’s Infralife asset management technology, which integrates service and diagnostic systems, allocates measurement data and visualises individual failures along ...

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    News

    DB to dispose of Arriva

    2019-03-27T19:24:05Z

    EUROPE: The Deutsche Bahn AG supervisory board confirmed on March 27 its intention to dispose of the company’s international operating subsidiary Arriva, Railway Gazette ’s sister publication Rail Business has reported. DB’s management team has been tasked with developing options for the transaction, which could either take the shape ...

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    News

    Railway supply industry news round-up

    2019-03-22T06:00:00Z

    Knorr-Bremse ’s North American subsidiary New York Air Brake has acquired Snyder Equipment Co , a Missouri-based locomotive fuelling and servicing equipment producer and component remanufacturer. ‘With the addition of Snyder’s top-line products to our portfolio, railroad and support service customers will be able to turn to NYAB as ...

  • Stadler has announced plans for an initial public offering and listing on the SIX Swiss Exchange.
    News

    Stadler announces IPO plan

    2019-03-19T10:14:33Z

    SWITZERLAND: Plans for an initial public offering and listing on the SIX Swiss Exchange were announced by rolling stock manufacturer Stadler on March 19. The IPO is planned for ‘the coming months’, subject to market conditions. It would consist entirely of secondary shares held directly and indirectly by Executive Chairman ...

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    News

    CAI International sells wagons

    2019-03-15T12:00:00Z

    USA: CAI International has agreed to sell 2 146 wagons, approximately 30% of its North American lease fleet, for $200m. The sale of 1 946 wagons was completed on February 26, realising a gain of $7m, while the remaining 200 wagons are currently being manufactured and will be sold ...

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    News

    Railway supply industry news round-up

    2019-03-15T06:00:00Z

    DB’s long-distance passenger operating business has selected IVU Traffic Technologies software to gather and process information for vehicle planning, preparation and maintenance management. The first elements will be tested from the end of 2019, with full deployment from December 2020. ‘The new platform marks a big step forwards for us ...

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    News

    Talgo predicts growth after lull in the production cycle

    2019-03-13T06:00:00Z

    TALGO: Spanish rolling stock manufacturer Talgo expects to see ‘significant’ revenue growth in 2019, with a mix of ‘low risk and high quality’ projects. The company said its ‘solid and stable’ order backlog had reached €3·16bn in February after winning a €550m contract to supply Deutsche Bahn with 23 ...

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    News

    EKE buys predictive maintenance software company Humaware

    2019-03-12T07:00:00Z

    EUROPE: Finnish train automation and onboard data system supplier EKE-Electronics has bought Humaware, a UK firm specialising in predictive condition monitoring analytics. Humaware’s software was originally developed for use with helicopters, and is now used by rail customers including Network Rail and London Underground. EKE-Electronics plans to combine Humaware’s ...

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    News

    Revenue up but one-time events hit VTG earnings

    2019-03-12T06:00:00Z

    VTG: Wagon leasing and rail and tank-container logistics company VTG has announced unaudited group revenue of €1·07bn for 2018, with the 5·7% year-on-year growth attributed to increased demand which saw capacity utilisation reaching 93·5% at the end of the year, the highest for 10 years. The acquisition of Nacco also ...

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    News

    Rail-specific insurance to mitigate cybersecurity risk

    2019-03-11T12:24:47Z

    GERMANY: A novel insurance policy intended to mitigate the cybersecurity risks facing railway operators has been launched in Germany. Deutsche Verkehrs Assekuranz Vermittlungs is a bespoke insurance broker owned by national railway Deutsche Bahn (65%) and insurers DEVK and Marsh. Through DVA, policyholders will be eligible for discounts from ...

  • The first production staff to be recruited for CRRC Sifang America’s Chicago rolling stock factory have gone to China for training.
    News

    Railway supply industry news round-up

    2019-03-08T06:00:00Z

    The first production staff to be recruited for CRRC Sifang America ’s Chicago rolling stock factory have gone to China for training. The plant in the Hegewisch district of southeast Chicago is to produce at least 840 Series 7000 metro cars for Chicago Transit Authority, and CRRC has committed to ...

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    News

    Gemini confirms Springburn works closure

    2019-03-07T16:04:46Z

    UK: Gemini Rail has confirmed that it is to close its Springburn rolling stock maintenance works in Glasgow, citing ‘severely adverse market conditions affecting its core business’ and losses of £1m per month throughout 2018. The site has work in place until July, but closure is planned by March 2020 ...

  • Hübner has a major order to supply gangways for New York City Subway trains.
    News

    Hübner to open US gangway factory

    2019-03-07T13:20:42Z

    USA: Having secured a major order to supply the gangways for new New York City Subway trains, Hübner has announced plans to build a elastomer product factory at Dunlap in Tennessee by 2020. This is to produce moulded parts, silicone seals and sensor-equipped rubber profiles for the US rail and ...

  • BLS Cargo has agreed to acquire Belgian freight operator Crossrail from Rhenus.
    News

    BLS Cargo acquires Crossrail to strengthen north–south corridor

    2019-03-07T10:55:29Z

    EUROPE: An agreement for BLS Cargo to acquire 100% of Belgian freight operator Crossrail from Rhenus for an undisclosed price was signed on March 5. The transaction is subject to regulatory approval and would be backdated to January 1. Switzerland-based BLS Cargo said it would gain a stronger position on ...

  • RENFE will be adopting an ‘unprecedented and pro-active’ approach to international expansion, President Isaías Táboas Suárez told the Rail Live trade show in Bilbao.
    News

    RENFE seeks ‘pro-active’ international expansion

    2019-03-06T11:40:29Z

    SPAIN: RENFE will be adopting an ‘unprecedented and pro-active’ approach to international expansion as its domestic market faces more liberalisation under the EU’s Fourth Railway Package, the Spanish incumbent’s President Isaías Táboas Suárez told the Rail Live trade show in Bilbao on March 6. Suárez highlighted RENFE’s participation in ...