RZD International has opened an office in Delhi. The Russian Railways subsidiary said it was is considering participating in a number of projects in India following the signing last October of a letter of intent to work with the Ministry of Railways on upgrading the 575 km Nagpur – Secunderabad line to permit 200 km/h operation.
New York-based private equity firm GenNx360 Capital Partners announced on March 2 that it had invested in Appalachian Railcar Services, which provides wagon repair and shunting services at 47 locations in 18 US states. Terms were not disclosed. ‘We are confident that the combination of ARS' strong and well-established brand and GenNx360's knowledge in the industry will help them to expand the service offering,’ said Monty Yort, Managing Partner at GenNx360 who led the transaction. ARS President & CEO Kurt Higginbotham said the investment ‘represents a new chapter for ARS and will allow us to accelerate a number of growth programmes already in progress.’
Frauscher has joined the Alstom Alliance partnership of around 30 companies which work with Alstom on business development and products innovation. ‘Sharing strategic information and business intelligence implies great value for Frauscher and Alstom as suppliers, as well as for our customers’, said Frauscher CEO Michael Thiel ‘In the end it is them who benefit from improved operational performance due to useful capacity adjustments, continuous value chain optimisation and even greater innovative strength based on an open exchange of requirements’.
Siemens Rail Automation’s purpose-built depot at Cambuslang on the outskirts of Glasgow was opened by Scottish Government Minister for Transport & the Islands Humza Yousaf on February 24.
NEM Solutions has opened a US office in Philadelphia.
Steelmaker Evraz has announced that revenue from railway products including rails, wheels and tyres increased 6·2% year-on-year to US$584m in 2016, with sales volumes up 12·6% but partially offset by a 6·4% fall in average prices. The increase was attributed to operational improvements at the EVRAZ ZSMK rolling mill, an wider range of products, higher demand for rails from Russian Railways and export customers, and higher demand for wagon components.