All Business articles – Page 6
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NewsDB invests in mobile data analytics company
SWITZERLAND: A company which uses mobile phone data to obtain information on travel demand has raised US$17·5m in a funding round with participants including Deutsche Bahn’s technology investment fund DB Digital Ventures, Robert Bosch Venture Capital, Innogy Ventures, LBBW Venture Capital, Liil Ventures and existing investors Atomico and Lakestar. ...
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Loram to acquire Aurizon’s rail grinding business
AUSTRALIA: Loram Maintenance of Way has agreed to purchase Aurizon’s rail grinding business, along with its contracts to serve four customers. ‘Loram recognises substantial opportunities in the Australian rail market’, explained Stephen Mannix, Managing Director of local subsidiary Loram Pty Ltd, when the agreement was announced on August 12. ...
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News
Railway supply industry news round-up
India’s Chittaranjan Locomotive Works produced 107 electric locomotives between April and July, with 32 completed last month. It expects to achieve a record production figure this financial year. Trust Bank has increased its share in United Wagon Co from 5·7% to 25·5%. Rolls-Royce Power Systems is to ...
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Siemens Mobility selects Softil software for LTE-R development
COMMUNICATIONS: Siemens Mobility is to use Softil’s BEEHD framework in the development of LTE-R communications technology to succeed GSM-R, and also mission-critical push-to-talk applications for transport use. The next-generation data communication system is required to support ETCS and automatic train operation as well as secure voice communication between drivers ...
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Cybersecurity firm raises seed funding
ISRAEL: Railway cybersecurity startup company Cervello has raised US$4·5m during a seed funding round. Investors include North First Ventures of Israel and Awz Ventures of Canada, along with Nissim Bar-El, the founder of technology security consultancy Comsec Group. ‘As operators further digitise their infrastructure, the railway industry is adopting ...
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Vossloh sales up as rationalisation progresses
VOSSLOH: Reporting its half-year results on July 25, Vossloh Group announced that sales had increased by 4·6% to €437·1m from €418·1m for the first six months of 2018. An 18·6% increase in orders received to €568·9m had helped to lift the group’s order backlog by 33·7% to €726·9m at the ...
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News
Railway supply industry news round-up
On July 29 The Greenbrier Companies reported that it had completed the acquisition of the wagon and components manufacturing businesses of American Railcar Industries, under a US$400m deal agreed in April. The ARI facilities in Missouri, Arkansas and Texas, including two new wagon manufacturing plants and 1 600 employees, will ...
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Televic Rail acquires information systems supplier GSP
EUROPE: Belgian communications and control technology company Televic Rail has acquired German train, metro and tram passenger information system supplier GSP Sprachtechnologie as part of its international growth strategy. The acquisition ‘gives us greater access to the highly attractive German market and the larger Germany, Austria and Switzerland region’, ...
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Talgo signs Egyptian co-operation agreement
EGYPT: Spanish rolling stock manufacturer Talgo has signed a framework co-operation agreement with the Arab Organization for Industrialization for the joint development of capacity and performance improvement projects on the Egyptian rail network. Signed in Madrid by Talgo CEO Jose Maria Oriol Fabra and the Chairman of AOI’s SEMAF ...
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Urban news
Robel takes stake in Vogel & Plötscher
GERMANY: Track maintenance plant supplier Robel has taken a majority stake in Vogel & Plötscher GmbH, which specialises in track measurement systems and electric drives. Based at Breisach in Baden-Württemberg, Vogel & Plötscher will continue to trade as an independent business following the acquisition of a 70% stake in ...
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St Pölten workshop modernised
AUSTRIA: The ÖBB Technische Services subsidiary of Austrian Federal Railways has completed a €29m, 16-month modernisation of its St Pölten rolling stock maintenance workshop. Three new halls have been erected for the maintenance of diesel locomotives, DMUs and components. These are equipped with diesel exhaust extraction systems, enabling engines ...
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OmniTRAX to buy Winchester & Western Railroad
USA: OmniTRAX has agreed to acquire the Winchester & Western Railroad from minerals company Covia Holdings Corp for $105m in cash, subject to adjustments. The transaction which is expected to close in Q3 2019 includes 470 wagons owned by the railway. Class III railway W& W has two divisions ...
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Railway supply industry news round-up
SNC-Lavalin Group has announced that it is to withdraw from the lump-sum turnkey contracting market. It intends to fulfil current contractual obligations, including the Montréal REM metro project. 'Lump-sum, turnkey projects have been the root cause of the company’s performance issues', said Interim President & CEO Ian L Edwards on ...
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Locos retrieved from Sierra Leone
AFRICA: Diesel locomotives which South African freight and financial services company Grindrod Ltd supplied for use at a mine in Sierra Leone which has now ceased operating have been recovered for use elsewhere. Grindrod delivered a total of 34 S30SCC locomotives to haul iron ore from ...
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BRX’s acquisition of Pioneer Railcorp approved
USA: Short line group Pioneer Railcorp announced on July 19 that its shareholders had approved the company’s acquisition by BRX Transportation Holdings, an entity formed by infrastructure investors Brookhaven Rail Partners, Related Infrastructure and private equity investor Stephens Capital Partners. Pioneer Railcorp owns 15 common carrier short lines including ...
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FlixTrain raises funding for expansion
INTERNATIONAL: FlixMobility has completed a Series F funding round co-led by growth equity firms TCV and Permira, with long-time investor HV Holtzbrinck Ventures also participating through a joint investment with the European Investment Bank. In the rail sector, the company plans to use the equity raised to support the ...
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FreightCar America to close Roanoke factory
USA: Wagon manufacturer FreightCar America is to permanently close its factory at Roanoke, Virginia, by mid-November. The company has leased the site from Norfolk Southern since 2005. ‘The closure of our Roanoke facility is another next step in our “Back to Basics” strategy as we continue ...
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Railway supply industry news round-up
Alstom booked €1·6bn of orders in Q1 to June 30, compared to €2·6bn in the same period last year. Sales increased 2% to €2·1bn, with a decrease in Systems balanced by a growth in Signalling and Rolling Stock. Sales were mainly fuelled by projects in the Middle East, rolling stock ...
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ICE4 deliveries to resume
GERMANY: Deutsche Bahn has resumed acceptance of ICE 4 trainsets with immediate effect, Siemens Mobility and Bombardier Transportation announced on July 17. The national operator had stopped accepting delivery of further ICE4 trainsets in April after Bombardier’s quality management procedures determined that some coach body welds had not been ...
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Study considers how to assess ‘green’ investment in rail
EUROPE: The European Commission has published a study into criteria used to classify railway assets and activities as environmentally sustainable, and to provide insights into potential ‘greenwashing’. This is intended to facilitate the rail sector’s access to ‘green’ bonds, which the Commission believes could be used to finance a significant ...
