An affiliate of Brookfield Asset Management Inc. agreed to buy railroad company Genesee & Wyoming Inc. for about $6.3 billion, expanding its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia.
July 1, 2019GovernmentTechnologySafety
Secretary Elaine Chao Touts Positive Train Control Installment at Summit
The U.S. Department of Transportation has recorded progress with the implementation of positive train control technology, the country’s top transportation official indicated recently.
June 28, 2019BusinessEquipmentTCA
Wabtec Names Rafael Santana CEO Effective July 1
Exactly two months after Westinghouse Air Brake Technologies purchased GE Transportation, Wabtec on April 25 announced that CEO Ray Betler will retire and that Rafael Santana, previously the CEO of GE Transportation, will step into that role as of July 1.
April 25, 2019GovernmentBusinessTechnologyEquipmentSafety
BNSF, Amtrak Detail PTC Progress at House Hearing
Executives from BNSF Railway Co. and Amtrak assured federal lawmakers of their firms’ adherence to congressionally mandated requirements regarding automatic braking technology.
March 12, 2019GovernmentBusinessTechnologyLogistics
White House Cancels $929 Million in Grants for California’s Beleaguered Rail Project
The Trump administration on Feb. 19 said it will cancel more than $900 million in federal grants earmarked for a high-speed rail project California that the state’s Democratic governor announced would be scaled back from its initial vision amid delays and cost overruns.
February 20, 2019BusinessLogistics
SteelRiver Infrastructure Looking to Sell Patriot Rail
SteelRiver Infrastructure Partners is seeking a buyer for Patriot Rail Co., a transportation business that could fetch more than $600 million, according to people with knowledge of the matter.
February 12, 2019Business
R.J. Corman Railroad Acquires Six Rail Companies
R.J. Corman Railroad Co. has acquired six rail companies, according to a Nov. 5 press release.
November 20, 2018BusinessTechnologyLogistics
TorQuest Partners Invests in Cando Rail
TorQuest Partners, a Toronto-based midmarket private equity firm, has invested in Cando Rail Services Ltd. of Brandon, Manitoba.
November 13, 2018Business
TP&L Starts $4.1 Million Rail Project
Transportation Partners and Logistics has begun a $4.1 million rail construction project in Pensacola, Fla., according to an October press release.
November 5, 2018BusinessTechnologyTop 50
Rail Profits Rise, But Intermodal Growth Not Certain
As motor carriers enjoy the fruits of the tight freight environment, railroads are continuing their push to boost earnings while they adjust to a market that increasingly is shifting toward intermodal.
September 17, 2018