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Rail News: Rail Industry Trends
8/6/2010
Rail News: Rail Industry Trends
Updates from Bombardier, Koppers Holdings, The Andersons and Parsons Brinckerhoff
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• Bombardier Transportation, with consortium partner Vossloh Kiepe, has signed an option to supply an additional 14 Bombardier Flexity Swift light-rail vehicles to Greater Manchester Passenger Transport Executive’s Metrolink system. The $43 million option is part of a contract signed in April 2007. The first of the vehicles is scheduled to be delivered to Manchester, England, in October 2011.
• Koppers Holdings Inc. reported a 12 percent increase in consolidated sales during second-quarter 2010 vs. Q2 2009. Railroad and utility products sales dropped 9 percent, or $12 million, compared with sales generated during the year-ago period. Net income for Q2 was $16.1 million vs. $11.7 million in Q2 2009.
• The Andersons Inc. reported second quarter net income of $25.2 on revenue of $811 million compared with $15.9 million net income on similar revenue for Q2 2009, company officials said in a prepared statement. The company also reported earnings of $37.4 million for the first half compared with $20.9 million in earnings for the first half of 2009. The rail group’s operating income for Q2 was $100,000 vs. $600,000 for the year-ago period. As of June 30, the group has about 22,800 cars and locomotives, down slightly from 2009.
• John Murphy was named chief financial officer at Parsons Brinckerhoff. Murphy previously was executive vice president of finance and finance director of the engineering and construction division of KVAERNER ASA in London.
• Koppers Holdings Inc. reported a 12 percent increase in consolidated sales during second-quarter 2010 vs. Q2 2009. Railroad and utility products sales dropped 9 percent, or $12 million, compared with sales generated during the year-ago period. Net income for Q2 was $16.1 million vs. $11.7 million in Q2 2009.
• The Andersons Inc. reported second quarter net income of $25.2 on revenue of $811 million compared with $15.9 million net income on similar revenue for Q2 2009, company officials said in a prepared statement. The company also reported earnings of $37.4 million for the first half compared with $20.9 million in earnings for the first half of 2009. The rail group’s operating income for Q2 was $100,000 vs. $600,000 for the year-ago period. As of June 30, the group has about 22,800 cars and locomotives, down slightly from 2009.
• John Murphy was named chief financial officer at Parsons Brinckerhoff. Murphy previously was executive vice president of finance and finance director of the engineering and construction division of KVAERNER ASA in London.
