On November 29 Alstom announced it had agreed terms for the sale of its Valencia diesel locomotive works to Vossloh, subject to regulatory approval.
Washington Group International and RATP Développement have formed an alliance to bid for passenger and light rail operations and maintenance work in the USA.
Timken Co announced on December 6 its intention to sell a 26% stake in rail bearing subsidiary Timken Bearing Services South Africa to a black economic empowerment partner.
Association of American Railroads subsidiary Transportation Technology Center Inc is to set up a UK engineering consultancy business in London.
RailPower Technologies Corp is to sell six million C$5·20 common shares from treasury on a bought-deal basis to a syndicate led by National Bank Financial, raising C$31·2m for international expansion. The Texas Emissions Reduction Program is also to provide a New Tech-nology Research &Development grant.
In a €310m transaction, SAB Wabco became part of the Faiveley Transport group on November 16 (RG 11.04 p794). A new corporate identity is to be launched.
Orient-Express Hotels has announced an agreement to acquire a 50% share in luxury train The Royal Scotsman from L&R Group in April, with the remainder of the shares to be acquired in three years.
Global Display Solutions has refurbished its display screen factory at Cornedo in Italy, with a modernised clean room and creation of an outdoor facility for the realistic testing of monitors. Investment has been made in large LCD production, and CRT work has been moved to Taiwan.
The Railway Engineers’ Association of Nigeria was formally launched in November to increase the level of local involvement in railway development projects in the country.