Railway supply industry news – Page 71
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NewsRailway supply industry news round-up
Stadler’s directors have recommended former Swiss transport minister Doris Leuthard for election to the board at the AGM to be held on April 30 2020. ‘Thanks to her proven specialist expertise in matters relating to traffic and infrastructure, as well as her political experience as a former ...
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NewsAlpha Trains raises green financing
LUXEMBOURG: Rolling stock leasing company Alpha Trains has refinanced some of its existing bank debt and secured further bank funds with a total volume of over €500m, as well as raising an additional €200m through a US private placement. This includes €140m of green bank financing, which ...
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NewsChinese high speed train operator’s IPO approved
CHINA: Beijing–Shanghai High Speed Railway Co’s planned IPO was formally approved by the China Securities Regulatory Commission on November 14. The state railway’s investment arm currently owns a 50% stake in the operator of the 1 318 km line, which opened in June 2011 with trains running ...
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NewsItalo signs ‘largest ever’ green loan for transport
ITALY: Open access high speed train operator Italo has signed a €1·1bn syndicated loan, which CEO Gianbattista La Rocca said was the world’s largest green loan in the transport sector. The proceeds will be used to refinance €900m of existing green investments on better terms, and to ...
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NewsRailway supply industry news round-up
The management and supervisory boards of VolkerWessels have unanimously recommended that shareholders accept Reggeborgh Holding’s offer of €22·20 per share in cash for all shares. Closing of the transaction is expected in Q1 2020. Reggeborgh CEO Henry Holterman said it had intended to be a long-term minority ...
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NewsStadler opens depot for Rhein-Ruhr fleet
GERMANY: Rhein-Ruhr transport authority VRR and Stadler have officially opened a €35m depot on a former colliery site in Herne where the manufacturer will maintain 41 Flirt 3XL EMUs which Abellio Rail NRW will operate on S-Bahn Rhein-Ruhr services from December 15. The 100 000 m² site ...
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NewsMillet AFR resumes wagon manufacturing
FRANCE: Manufacturing of new wagons has resumed at the former Arbel-Fauvet-Rail plant in Douai, following the acquisition of the business by wagon leasing group Millet SA, the company confirmed on November 12. Assembly of grain wagons began in October, and the construction of tank wagons is expected to restart in ...
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NewsJingye agrees to buy British Steel business
UK: China’s Jingye Group has entered into contracts to acquire the business and assets of British Steel Ltd (in liquidation), the Official Receiver and special managers from EY announced on November 11. British Steel supplies 95% of the rails used by Network Rail. ...
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NewsNational Railways of Zimbabwe orders Russian wagons
ZIMBABWE: National Railways of Zimbabwe has signed an agreement for United Wagon Co to supply 100 open wagons. They are scheduled to be delivered within 12 months of NRZ finalising an export loan with the assistance of the Russian supplier. The 1 067 mm gauge wagons are ...
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NewsConstruction of Nigerian rolling stock factory begins
NIGERIA: The construction of a rolling stock assembly plant at Kajola in Ogun state was launched when Vice-President Yemi Osinbanjo attended a groundbreaking ceremony on November 9. Minister of Transportation Chibuike Rotimi Amaechi said the plant on the Lagos – Ibadan railway would ...
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NewsCRRC presents ETCS and CBTC technology to the global market
GERMANY: CRRC Times Electric presented its SigThemis ETCS and tSafer-UC1000 communications-based train control platforms at Messe Berlin’s inaugural Mobility Electronics Suppliers trade fair in the German capital on November 6. CRRC said the two train control platforms would ‘add a new colour to the beautiful business card’ ...
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NewsFront door to destination with RENFE app
SPAIN: National operator RENFE is to integrate Karhoo’s taxi booking platform into its ‘RENFE as a Service’ mobile app, which is being developed with the aim of enabling passengers to book an end-to-end journey across modes including rail, metro, taxi, private hire vehicle and scooter in a ...
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NewsRailway supply industry news round-up
Alstom booked €4·6bn of orders in its first half between April 1 and September 30, down 35% year-on-year, with its backlog up 8% at a record €41·3bn. Sales were up 3% at €4·1bn, with adjusted EBIT up 5% to €319m and an adjusted EBIT margin of 7·7%. ...
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NewsIndian School of Business to support railway leadership development
INDIA: The creation of a ‘future-ready leadership pool for Indian Railways’ is the focus of a memorandum of understanding between the Ministry of Railways and the Indian School of Business. The MoU signed on October 30 covers executive education programmes, research opportunities and the development of case ...
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Rail Business UKChinese interest in British Steel bid
UK: British Steel has announced that the Official Receiver is holding discussions with a Chinese bidder which is interested in purchasing the whole of the business in a strategic acquisition which would support the development of its operations outside of China. The potential bidder began visits to ...
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Rail Business UKPorterbrook completes £250m refinancing
UK: Porterbrook has announced the successful refinancing of its £250m public bond, locking in low funding costs 12 months ahead of the bond’s maturity in October 2020. A £100m samurai loan has been raised from a syndicate of four Japanese institutional investors, in what Porterbrook said was ...
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NewsPolicies needed to maintain EU rail suppliers’ global leadership
EUROPE: A report setting out policy measures which are needed to maintain the European supply sector’s ‘global leadership’ and competitiveness has been published by an EU expert group drawn from across the rail industry. Established a result of a European Parliament resolution in 2016, the group includes ...
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NewsRailway supply industry news round-up
Rail.One has open a plant at Schwandorf in Germany for the production of up to 180 000 m of prestressed concrete turnout bearers per year under a 15-year contract awarded by DB Netz in October 2017. The site is close to DB’s turnout plant to simplify ...
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NewsProgress Rail to buy Cleveland Track Material
USA: Progress Rail has signed an agreement to buy specialist trackwork supplier Cleveland Track Material Inc, the largest US company in Vossloh’s Customised Modules division. The €35m sale does not require regulatory approval, and is expected to close in early November. ‘This acquisition allows Progress Rail to ...
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NewsLiefkenshoek rail tunnel PPP refinanced
BELGIUM: The BAM PPP-PGGM joint venture of Royal BAM Group’s public-private partnership arm BAM PPP and Dutch institutional pension fund investor PGGM has refinanced €580m of debt and associated interest swaps relating to the Liefkenshoek rail link in Antwerpen. The 16 km link including a 6·5 km ...