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10/25/2019
Hy-Tech Engineered Solutions Inc. has acquired Blaz-Man Gear and Gear Products & Manufacturing. The acquisitions will triple Hy-Tech’s capacity in gear production, allow the company to expand into more complex spiral and straight bevel gear design and manufacture at lower costs, company officials said in a press release. The new companies will operate together with Hy-Tech’s existing gear company, Quality Gear, forming a new Power Transmission Division in Punxsutawney, Pennsylvania.
The Greenbrier Cos. Inc. reported fiscal fourth-quarter net earnings of $35.1 million, or $1.06 per diluted share, on revenue of $914.2 million. Quarterly results include $8.2 million in costs related to the American Railcar Industries acquisition. During the full fiscal year, the company reported net earnings of $71.1 million, or $2.14 per diluted share, on revenue of $3 billion. Record new rail-car deliveries totaled 23,400 units for the year, Greenbrier officials said in a press release.
Trinity Industries Inc. reported third-quarter revenue increased to $813.6 million compared with $606.9 million for the same quarter in 2018, reflecting a 34 percent growth year over year. The company reported net income from continuing operations of 39 cents per common diluted share. Trinity’s Rail Products Group reported $723 million of quarterly revenue. The group logged 2,530 rail-car orders and delivered 5,230 cars, resulting in a total car backlog of $2.4 billion at quarter-end. The company also logged growth of its lease fleet to 102,090 units, bringing the total value to $7.4 billion. “Trinity’s third quarter financial results significantly improved year over year due to the growth of our railcar lease fleet and increased deliveries of new rail cars,” Chief Executive Officer and President Timothy Wallace said in a press release.
Alstom entered into a nearly $400 million contract to supply 39 additional Coradia Polyvalent trains to the Grand Est region in France. The region previously ordered 40 Coradia Polyvalent trains, of which 36 have already been delivered. Deliveries will be staggered between 2022 and 2024, Alstom officials said in a press release. Alstom also entered a Citadis X05 tram into service on the first tramway line in Avignon, France. Meanwhile, the Alstom Ubunye rail factory in South Africa was officially inaugurated by local officials. The factory supplies components for 150 trains being build by Gibela Rail Transportation Consortium for the Passenger Rail Agency of South Africa. Alstom Ubunye and Gibela Rail are Alstom’s South African joint ventures.
Abloy USA hired Joe Brown to serve as the vertical market manager of transportation. Brown brings years of experience and a versatile background to the position, company officials said in a press release. Previously, Brown served as director of national accounts for Prime-Line Products, vice president and general manager of Global Door Controls and district sales manager for Yale Security, which is now owned by Assa Abloy and the parent company of Abloy USA.