India’s Chittaranjan Locomotive Works produced 402 locomotives in the 2018-19 financial year, up 15% from 2017-18 and with a 7·5% reduction in unit costs. CLW said a WAG9 locomotive now costs ‘just above‘ Rs100m. The first 9 000 hp WAG-9HH locomotive was rolled out at the end of March.
Following its IPO and listing on the SIX Swiss Exchange on April 12, Stadler Rail announced on April 16 that the joint global co-ordinators, acting on behalf of the syndicate banks had have fully exercised the over-allotment option of its initial public offering of 5 250 000 existing shares at the offer price of SFr38 per share. Including the shares placed in connection with the over-allotment option, a total of 40 250 000 existing shares have been sold in the IPO of Stadler, corresponding to 40·25% of the share capital. The total placement volume amounts to SFr1·53bn. Peter Spuhler holds 39·7% of the share capital.
Traktionssysteme Austria has formally registered Chinese subsidary Traction Systems China as a wholly foreign-owned enterprise. ‘Our growing business relationships and the increased presence in the international rail market have made local suppliers in the People‘s Republic of China indespensable partners for the production of TSA products‘, the company said. ‘We want to further expand the procurement market in China for technically demanding components and have therefore decided to found a local company.‘
Vossloh has established Vossloh Services France SAS to offer track maintenance services, technical assistance and training for main line and urban rail networks.
Duagon-MEN-Group has acquired 100% of Australian company OEM Technology Solutions, which produces control and automation products for the rail market. ‘OEM Technology Solutions products and services allow us to provide a broader and deeper product set to the railway market’, said Duagon-MEN-Group CEO Markus Dilger when the contract was signed. Founders James McLeod and Richard Gobee have committed to long term agreements to continue to manage the Sydney-based organisation and to contribute to group product development strategy.
The British Standards Institute has certified rolling stock asset management company Porterbrook under the ISO 440001 international standard for collaborative business relationships. ‘By establishing long-term partnerships Porterbrook can work with the supply chain to help them better plan future work, make more cost-effective long-term procurement decisions and improve overall delivery, benefitting both customers and passengers‘, said Porterbrook’s Head of Procurement Anvesh Prasad.
The FS Group board has approved the issue of €1·75bn of bonds under the EMTN Programme for institutional investors, listed on the Irish Stock Exchange. The proceeds will finance capital expenditure on regional, medium and long-distance passenger trains, freight locomotives and high speed infrastructure. Money from green bonds will be earmarked for the regional trains.