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Rail News Home Rail Industry Trends

4/23/2010



Rail News: Rail Industry Trends

Updates from RailWorks, The CrossGlobe Group, GATX, L.B. Foster and RailPros


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• RailWorks Corp. named Scott Brace president of subsidiary RailWorks Track Systems Inc. In addition, the company named William King vice president of the major projects division of RailWorks Track Systems. Brace formerly was executive vice president of RailWorks Track Systems; King has more than 27 years of rail industry experience.

• The CrossGlobe Group and Walsh Transportation Group of Cos. announced a partnership in New England aimed at linking Walsh’s multi-mode transportation network throughout the United States, Canada and Mexico to CrossGlobe’s service capabilities in transload, warehousing, distribution and box-car service in Monson, Mass.

• GATX Corp. reported first-quarter net income of $18.7 million vs. $27.6 million in first-quarter 2009. The rail unit's utilization rate was 96 percent vs. 95.9 percent in the year-ago period. First-quarter profit for the rail segment was $49.3 million compared with $43.2 million in first-quarter 2009. As of March 31, the rail unit's North American fleet totaled about 109,000 freight cars.

• L.B. Foster Co. reported first-quarter net income of $1.8 million compared with $3.0 million in first-quarter 2009. Net sales decreased 19.3 percent to $82 million compared with $101.6 million in the year-ago period. L.B. Foster also announced the Court of Common Please of Allegheny County, Pa., issued a preliminary injunction enjoining the company and Portec Rail Products Inc. from completing L.B. Foster’s tender offer to acquire all of Portec’s issued and outstanding common stock.

• RailPros has named Joe Zerzan senior signal manager. He most recently served the Southern California Regional Rail Authority as lead technical advisor for Metrolink's positive train control project.