NRE has launched an online auction site to provide its customers with ‘the ease and convenience of online shopping for hard to find parts at competitive pricing’, according to Claire Vaughan, responsible for Auction & Online Sales at the company. The website is initially selling NRE products, but ‘we hope to expand and offer consignment opportunities to other businesses’, she said. The inaugural auction included main generator cores, alternator cores, crankshafts, brake cylinders and cooling fans.
SKF is to invest SKr150m modernising its cylindrical roller bearing manufacturing plant at Schweinfurt in Germany by mid-2018, with older production methods to be replaced by ‘largely automated, world-class technologies’ which are expected to improve flexibility and lead times.
On October 11 Russian Railways finalised the settlement of its tender offer for outstanding Eurobond issues denominated in US dollars and Swiss francs, and the placement of two new issues valued at US$500m maturing in four years and 15bn roubles maturing in seven years. RZD said the deals marked a successful return to the international capital markets after an absence of two years. The issues were placed on the international market using an LPN structure via the Irish SPV issuer RZD Capital plc.
On October 31 Wabtec Corp announced it had priced an offering of US$750m of 3·45% senior notes due in 2026. Wabtec intends to use the net proceeds to contribute to the cash portion of its purchase of Faiveley Transport and for refinancing Faiveley’s outstanding debt. JP Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith Inc, PNC Capital Markets, HSBC and Société Générale are joint book-running managers.