Railway supply industry news – Page 119
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NewsVossloh Rail Vehicles sold to Stadler
EUROPE: German track components and rolling stock manufacturer Vossloh AG announced on November 4 that its Executive Board had signed a contract for the sale of its Rail Vehicles business unit in Spain to Stadler Rail AG of Switzerland. Subject to approval by the relevant competition authorities, the deal is ...
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NewsHitachi completes Ansaldo deal
INTERNATIONAL: Finmeccanica and Hitachi announced on November 2 the 'closing of transactions' covering the acquisition by Hitachi of AnsaldoBreda and Finmeccanica’s 40% stake in Ansaldo STS. Having acquired the largest shareholding in the signalling business, Hitachi will now launch a mandatory tender offer for all the remaining shares, in accordance ...
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NewsAlstom ‘entirely refocused on rail’ as GE deal completed
INTERNATIONAL: Alstom announced the close of the €12·4bn sale of its Energy activities to GE on November 2, saying the group was now ‘entirely refocused on rail transport’. Completion of the transaction followed regulatory approval in more than 20 countries as well as the European Union. Alstom has used part ...
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NewsRailway supply industry news in brief
Presenting its financial results for the first nine months of 2015 on October 29, Vossloh AG announced than it was treating its Vossloh Rail Vehicles unit in Valencia as a discontinued operation with effect from September 30. Talks with parties interested in buying the Rail Vehicles unit have been ‘accelerated’, ...
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NewsSNCF launches digital investment fund
FRANCE: SNCF has launched a €30m SNCF Digital Ventures investment fund, which aims to ‘actively seek and identify digital initiatives that will impact SNCF’s transport business’. The fund will invest in companies that are working with SNCF on innovation, and acquire stakes in companies specialising in areas that ‘are ...
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NewsSNTF and Systra to form joint venture
ALGERIA: On October 26 state railway SNTF signed an agreement with French engineering consultancy Systra to form a joint venture specialising in railway systems. With 51% of the Algerian-based company held by SNTF and 49% by Systra, the new joint venture is expected to create around 50 ‘highly qualified’ posts, ...
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NewsMitsubishi Electric acquires Medcom stake
POLAND: Mitsubishi Electric Corp has signed an agreement to acquire a 49% stake in Warszawa-based rolling stock electrical equipment manufacturer Medcom. Medcom supplies auxiliary power supplies and traction inverters to mainly eastern European customers. Announcing the agreement on on October 15, Mitsubishi Electric said the acquisition would support its ambition ...
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NewsAMP Capital increases Angel Trains stake
UK: Australian pension investor AMP Capital Investors has increased its stake in UK rolling stock leasing company Angel Trains by acquiring minority interests previously held by Prime Super and STC Funds Nominee. AMP Capital Investors has been an investor in Angel Trains since 2008. It had increased its stake ...
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NewsPredictive maintenance at the heart of Thameslink EMU depot
UK: ‘We want to prevent malfunctions before they even occur,’ said Siemens Mobility Division CEO Jochen Eickholt when Secretary of State for Transport Patrick McLoughlin officially opened the new rolling stock depot at Three Bridges on October 15. The depot will maintain the 115 Class 700 Desiro City electric ...
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NewsTrinity Industries and Element Financial extend wagon alliance
USA: On October 14 the TrinityRail Asset Management Co subsidiary of Trinity Industries announced an extension of its alliance agreement with Element Financial Corp, which expects to acquire additional wagons leased to third parties worth up to $1bn in 2016-19. As with purchases made under the existing alliance agreed in ...
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NewsKanchrapara EMU factory prequalification begins
INDIA: The Ministry of Railways has issued a request for qualifications for a contract to set to establish on a joint venture basis an electric multiple-unit and metro car factory at Kanchrapara, north of Kolkata in West Bengal. Around 150 acres of railway land has been allocated for the project. ...
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NewsWabtec acquires lineside sensor supplier Track IQ
AUSTRALIA: Wabtec Corp announced its acquisition of lineside sensor manufacturer Track IQ on October 12. Track IQ products use acoustic sensors to monitor the condition of bearings and wheels on passing rolling stock. They are installed at more than 150 locations in countries including Australia, New Zealand, ...
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NewsAppalachian buys FreightCar America repair business
USA: Appalachian Railcar Services subsidiary ARS Nebraska bought FreightCar America’s wagon repair and maintenance business on September 30, paying $20·0m in cash and assuming certain liabilities. President & CEO Kurt Higginbotham said the deal was ‘a great moment’ in the history of ARS, which since 2000 has expanded into ...
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NewsProgress Rail buys fuel injection system supplier
USA: Progress Rail Services has acquired Haynes Corp, which manufactures precision diesel fuel injection systems for heavy duty engines. Products includes injection pumps, injector assembles, nozzles, delivery valves, plungers, barrels and electronic injectors. Haynes also undertakes contract manufacturing. ‘This acquisition is a good strategic fit to expand our offering of ...
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NewsWabtec signs Faiveley Transport purchase agreement
INTERNATIONAL: On October 6 Wabtec Corp signed a definitive share purchase agreement to acquire a 51% stake in Faiveley Transport SA from members of the Faiveley family. According to Wabtec, the deal would ‘create one of the world’s largest public rail equipment companies, with revenues of about US$4·5bn and ...
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NewsPueblo wagon repair plant announced
USA: Wagon repair company Freedom Railcar Solutions and International Engineering have announce plans to develop a full-service wagon repair and modification facility in Pueblo, Colorado, by January 2017. This would offer services for tank and other wagons including interior cleaning, repairs, modification, exterior painting, interior lining and fabrication. The ...
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NewsEltel buys Norwegian signalling business
NORWAY: Power, communications, transport and security systems support service provider Eltel announced on October 5 that it had reached an agreement to acquire signalling installation, maintenance and project management company VETE Signaltjenester. The transaction was expected to close within one week. VETE was founded by former Strukton Rail employees ...
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NewsCummins delivers first QSK95 locomotive engine
USA: Cummins has shipped the first production QSK95 diesel engine built to a rail specification. The QSK95 is to power the 35 Charger passenger locomotives ordered by the states of Illinois, California, Michigan, Missouri and Washington and now under construction at the Siemens plant in Sacramento, as well as future ...
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NewsAlstom acquires Motala Train
SWEDEN: Alstom has acquired passenger rolling stock refurbishment, maintenance and repair company Motala Train from Motala Verkstad Group. Motala Train has a 5 600 m2 workshop in Motala and a second depot in Västeras, with a total of 73 staff and an annual turnover of €15m. Refurbishment work accounts for ...
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NewsAlstom multiple-unit maintenance site goes electric
GERMANY: Alstom Transport has opened an electric multiple-unit servicing, repair and refurbishment facility at the Braunschweig site where it undertakes similar work on diesel multiple-units under contract to various train operators. The €15m expansion of the site’s facilities includes two additional workshops, 1·5 km of 15 kV 16·7 Hz ...