WASHINGTON — The National Gateway has announced its participation in the American Road and Transportation Builders Association (ARTBA) Public-Private Partnerships in Transportation Conference, a leading industry event on private financing of transportation projects on July 22-23 in Washington. “Public-private partnerships offer tremendous value to businesses and taxpayers while also spurring job creation and economic growth,” said Louis Renjel, vice president of strategic infrastructure initiatives, CSX Transportation. “By working together, the public and private sector can speed delivery of transportation solutions like the National Gateway, which will improve shipping options, reduce fuel consumption, lighten the load on our nation’s highways and
CHATTANOOGA, Tenn. — Norfolk Southern Corp. is in negotiations with the Tennessee Valley Railroad Museum with regard to the operation of a limited schedule of steam locomotive event appearances and passenger excursions beginning later this year. “21st Century Steam” would highlight milestones in rail history and provide an opportunity for audiences to learn about today’s safe and service-oriented freight railroads. The program would feature three venerable coal-powered steam locomotives: — Southern Railway 4501: Built in 1911 by Baldwin Locomotive Works, 4501 served Southern Railway in freight service in Tennessee, Virginia, Kentucky and Indiana, before being sold to a short line railroad.
PITTSBURGH — On Feb. 16, L.B. Foster Co. and its wholly owned subsidiary, Foster Thomas Company, entered into an Agreement and Plan of Merger with Portec Rail Products, Inc. Pursuant to the merger agreement, L.B. Foster, through its subsidiary, commenced a tender offer for all of Portec’s common stock at a price of $11.71 per share. The tender offer currently is set to expire on July 30 and is subject to all necessary antitrust clearances under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. L.B. Foster on June 28 announced that the Court of Common Pleas of Allegheny County, Penn., has
WASHINGTON — The Association of American Railroads (AAR) reported that intermodal volume on U.S. freight railroads for the week ended May 15, 2010, reached its highest level since the 47th week of 2008. Carloadings last week also saw gains, with 18 of 19 commodity groups showing increases from the comparable week in 2009.
GREENWICH, Conn. — Genesee & Wyoming Inc. reported net income in the first quarter of 2010 of $16.0 million, compared with net income of $13.9 million in the first quarter of 2009. GWI’s diluted earnings per share (EPS) in the first quarter of 2010 were $0.39 with 41.4 million weighted average shares outstanding, compared with diluted EPS of $0.38 with 36.4 million weighted average shares outstanding in the first quarter of 2009. “Our first quarter financial results were a good start to 2010,” said John C. Hellmann, president and CEO of GWI. “In late February, our traffic began to strengthen