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9/22/2023
The Greenbrier Cos. has received orders for 15,300 new rail cars with an aggregate value of $1.9 billion during its fiscal fourth quarter ended Aug. 31. The 15,300 units were ordered by customers operating in various commercial sectors and spanned a range of rail-car types, yielding Greenbrier’s highest quarterly order count in nearly a decade, according to a company news release. The orders do not include any multiyear order activity.
TiEnergy, a railroad tie recycling and repurposing company, has gone than 700 days without an accident, the company announced. TiEnergy credits adherence to national standards and the development of supplemental safety procedures for its two-year zero-accident record. In addition to national safety compliance, the company also institutes and follows its own internal safety methodologies. Examples include machine safeguards such as equipment shutdown and cooling protocols, heat and cold stress tests, and comprehensive onsite safety action and management plans customized for each partner.
Amergin Asset Management (AAM) announced that Amergin Rail, a portfolio company of certain funds managed by AAM, has acquired PNC Bank's operating rail-car portfolio. The purchase included more than 6,000 rail cars under management, which are under lease to a variety of companies across the United States. PNC will continue to provide traditional financing products and services to the rail and transportation industry, according to an AAM press release.
H.W. Lochner Inc., a provider of infrastructure planning and engineering services, has hired Gary Thomas, former president and executive director of Dallas Area Rapid Transit, to direct the growth of a national transit and rail practice. Thomas will be responsible for strategy development, client relationship management and key pursuits and partnerships. He'll also will partner with Lochner's corporate development team to identify, acquire, and integrate transit and rail companies into Lochner's service portfolio.
Watco announced it has been named No. 88 on Newsweek’s newly released list of the Top 100 Most Loved Workplaces in America. The company moved up from its No. 92 position on that same list a year ago, according to a Watco news relese. And in May, Newsweek included Watco on its global list of the Top 100 Most Loved Workplaces, at No. 67.
The Railway Engineering-Maintenance Suppliers Association (REMSA), Railway Supply Institute (RSI) and Railway Systems Suppliers Inc. (RSSI) have signed a memorandum of understanding for the Railway Interchange to continue in 2025. The MOU is intended to facilitate collaboration between the three railway supplier associations and allow them to continue the tradition of hosting the largest railway industry exhibition and conference in North America, according to a news release. Railway Interchange has attracted nearly 9,000 attendees from more than 40 countries and more than 700 exhibitors.