Mexico’s TFM targets year-over-year revenue growth at 16 percent (1/22/2002)
1/22/2022Transportación Ferroviaria Mexicana S.A. de C.V. (TFM) is predicting a banner revenue-growth year, increasing revenues16 percent in 2002 — despite Mexico's economic slowdown — by taking more market share from trucks, said TFM Executive Director Jorge Licon in a statement prepared Jan. 21.
Licon believes there’s room for growth because 34 percent to 35 percent of all U.S. cargo is shipped by rail, while in Mexico the percentage lags at 12 percent of all cargo. And the railroad plans to spend $100 million this year on infrastructure projects.
TFM, a subsidiary of Transportación Maritima Mexicana S.A. de C.V. and Kansas City Southern, last year recorded $680 million in revenue, rising 6 percent compared with 2000 but falling short of the railroad’s 15 percent growth target due to economic recessions in the United States and Mexico.
Source: Progressive Railroading Daily News