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Rail News Home Financials

5/15/2008



Rail News: Financials

Updates from Timken, Siemens, ENSCO, Miscor Group, Wabtec, STV/Ralph Whitehead, Global Railway, Alcan, Citibank India and Bird-X


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More developments abound in the rail supplier/service provider industry:

• The Timken Co. signed a long-term agreement to operate a rail bearing reconditioning unit for Brazilian rail operator America Latina Logistica S.A. The unit will be housed at the operator's Sorocaba plant. Timken bearing engineers will operate the unit, and provide the equipment and technical knowledge required to return used bearings to like-new condition.

• Siemens AG's Mobility Division won a $2.2 billion order from the Belgian rail operator Société Nationale de Chemins de Fer Belge to supply 305 multiple-unit trains for Belgium's regional rail service. The contract's value represents Siemens' largest-ever rolling stock order. Siemens will begin building trains in summer 2009 at its German Krefeld-Uerdingen plant and deliver all units between 2011 and 2016.

• ENSCO Inc. announced it will be named one of the Washington, D.C. region's top 50 "Best Places to Work" by the Washington Business Journal at an awards ceremony on June 13. The award recognizes the company's efforts to create a positive work environment through a combination of employee satisfaction, working conditions and company culture, according to ENSCO, which previously won two CARE (Companies as Responsive Employers) Awards in recognition of a family-friendly workplace.

• Miscor Group Ltd.'s Repair, Remanufacturing and Manufacturing unit reported first quarter revenue of $21.1 million, a 74 percent increase compared with first-quarter 2007's total. The unit provides maintenance and repair services for industrial motors, generators, lifting magnets, locomotives and locomotive engines, as well as diesel-engine component manufacturing, remanufacturing and repair services.

• Wabtec Corp. shareholders elected Emilio Fernandez, Lee Foster II and James Napier to the company's board. Fernandez will serve as vice chairman and each will serve three-year terms.

• Engineering and construction management firm STV/Ralph Whitehead Associates named Donald Arant project manager and senior railway engineer. He will be based in the Charlotte, N.C., office. Arant most recently was the city engineer for Greensboro, N.C.

• Global Railway Industries Ltd. reported first-quarter revenue of $15.5 million and net earnings of $641,598 vs. $9.5 million and $1.2 million, respectively, in first-quarter 2007. Global Railway subsidiaries Bach-Simpson Corp., CAD Railway Industries Ltd., G&B Specialties Inc. and Prime Railway Services provide event recorder monitoring and control systems, train speedometers, track and signal products, rail gear, rail-car doors and replacement parts, and remanufacture locomotives, cars, power generation units and rail components.

• Alcan Extruded Products obtained an order for 88 car body shells for the Cobra tram, Zurich, Switzerland's advanced urban transport system. Following the testing of six pilot units, the trams are scheduled to be delivered to the Zurich Public Transport Authorities by mid-2009.

• Citibank India and the Delhi Metro Rail Corp. have launched India's first combination smart card/credit card. Metro riders using the card can gain "tap and go" entry into stations and earn reward points that can be converted into free Metro miles.

• Bird-X Inc. has unveiled an upgraded Web site at www.bird-x.com. The site offers user-friendly features, easier navigation and sourcing, and more relevant information pertaining to specific bird problems and solutions, the company said. Bird-X provides bird and animal pest-control products.