Railfanning.org News Wire

American Railcar Industries Announces Formation of U.S. Railcar Joint Venture

February 19, 2010 Railfanning.org News Wire

ST. CHARLES, Mo. — American Railcar Industries and Ohio-based U.S. Railcar announced the formation of a joint venture to be named U.S. Railcar Co. The joint venture is being formed to design, manufacture and sell Diesel Multiple Units, which are self-propelled passenger railcars in both single- and bi-level configurations. ARI is majority owned by Icahn Enterprises. “ARI is excited to participate in this opportunity to join USR and bring ARI’s freight rolling stock manufacturing heritage to the passenger equipment sector,” said ARI President and CEO James Cowan. “Our commitment to expand and diversify ARI’s manufacturing program results from ARI’s desire

FreightCar America Reports Fourth Quarter and Full Year 2009 Results

February 18, 2010 Railfanning.org News Wire

CHICAGO — FreightCar America Inc. reported results for its fourth quarter ended December 31, 2009 with sales of $49.4 million and a net loss of $5.5 million, or $0.47 per diluted share. Sales for the quarter were down 10 percent from third quarter 2009 sales of $55.1 million and down significantly over fourth quarter 2008 sales of $271.9 million. Railcar deliveries totaled 697 units in the quarter, compared to 695 units delivered in the third quarter of 2009 and 3,624 units delivered in the fourth quarter of 2008. The gross margin rate for the fourth quarter was 6.8 percent, compared to

Amtrak Applauds DOT for TIGER Grants

February 18, 2010 Railfanning.org News Wire

WASHINGTON — Amtrak said it “applauds the U.S. Department of Transportation for once again recognizing the importance of intercity passenger rail as a vital component of this nation’s transportation system.” “Routes served by Amtrak will be among the beneficiaries of the state and locally sponsored passenger rail improvement projects selected to receive Transportation Investment Generating Economic Recovery (TIGER) grants,” the railroad said in a statement. “In particular, grants for projects aimed at reducing or eliminating rail congestion choke points in Chicago will support Amtrak on-time performance and station improvements in New York City, Normal, Ill., and St. Paul, Minn., will enhance

Federal Railroad Administration Initiates Trespass Prevention Study in South Florida

February 17, 2010 Railfanning.org News Wire

WASHINGTON — The Federal Railroad Administration (FRA) announced that the City of West Palm Beach, FL and the South Florida Regional Transportation Authority (SFRTA), among other partners, will participate in the Trespass Prevention Research Study, a program designed to identify and review trespass laws and mitigation strategies. The goal is to successfully reduce trespassing incidents and fatalities, the feds said. The SFRTA area experienced ten fatalities due to illegal trespassing in the first eight months of 2008, half of which occurred in the West Palm Beach area. Research done by FRA in the region will help the agency better understand trespassing

National Gateway Receives Federal Stimulus Funds through TIGER Program

February 17, 2010 Railfanning.org News Wire

WASHINGTON — The National Gateway has been awarded $98 million in funding from the Transportation Investment Generating Economic Recovery (TIGER) Discretionary Grant program, part of the so-called American Recovery and Reinvestment Act. The federal funds invested in this project will immediately be put to work alongside state and private funds to drive direct and long-lasting benefits in Maryland, Ohio, Pennsylvania, Virginia, West Virginia and North Carolina — as well as the rest of the nation, officials said. “This grant is a validation of the benefits of freight rail and the prominent role that railroads play in growing our economy and

CSX Announces Fourth Quarter and Full-Year 2009 Earnings

February 17, 2010 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. announced fourth quarter earnings from continuing operations of $305 million, or 77 cents a share, versus $361 million, or 92 cents a share, in the same period last year. Fourth quarter revenue of $2.3 billion was 13 percent down from the prior year. This was driven by a 7 percent overall decline in volume as growth in the intermodal and automotive sectors was more than offset by declines in coal and merchandise. In addition, lower fuel prices led to decreased fuel surcharge recovery. Despite these factors, core pricing remained strong, reflecting high service levels and

Robertson Named CSX AVP-Regional Development

February 17, 2010 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Transportation announced that Clark Robertson, a veteran of commercial real estate investment and management, has joined the company as Assistant Vice President-Regional Development. Robertson, who has significant experience in business development of port, intermodal and industrial properties and facilities, will report to Fredrik Eliasson, Vice President-Emerging Markets. Robertson was most recently First Vice President at ProLogis where he was responsible for several strategic alliances with marine ports and railroads. His 25-year career has also included work at Cherokee Investment Partners, The Broe Companies and Trammell Crow. “We are pleased to welcome Clark Robertson to CSX Transportation

L. B. Foster Company to Acquire Portec Rail Products

February 17, 2010 Railfanning.org News Wire

PITTSBURGH — L. B. Foster Co. and Portec Rail Products Inc. announced the signing of an Agreement and Plan of Merger, under which L. B. Foster will make, through its wholly owned acquisition subsidiary, a cash tender offer to acquire all of Portec’s outstanding shares of common stock for $11.71 per share. “The proposed acquisition will bring together two organizations with a rich history of successfully delivering products and services to the global rail industry,” said Stan Hasselbusch, L . B. Foster’s President and Chief Executive Officer. “The addition of Portec will complement our existing array of products and furthers

Genesee & Wyoming Inc. and Consolidated Thompson Iron Mines Limited Sign Rail Services Agreement

February 16, 2010 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. said that GWI and a newly formed GWI subsidiary, Western Labrador Rail Services (WLRS), have entered into a long term agreement with Bloom Lake Railway Company (BLRC), a subsidiary of Consolidated Thompson Iron Mines Limited (CLM), for WLRS to provide rail transportation services to BLRC. Operated as part of GWI’s Canada Region, WLRS will haul unit trains of iron ore over BLRC’s newly constructed 31-kilometer railway from CLM’s Bloom Lake mine, located in the province of Quebec on the south end of the Labrador Trough, to Wabush, Labrador. The iron ore will then travel

Union Pacific Railroad Named to Most Admired for HR List by Human Resource Executive

February 12, 2010 Railfanning.org News Wire

OMAHA, Neb. — Human Resource Executive has named Union Pacific Railroad as one of its 50 Most Admired for Human Resources companies for 2009. Union Pacific is the highest-rated U.S. Class I railroad on the list and is ranked No. 19 overall, up 10 spots from 2008. “Americans depend on Union Pacific to deliver the products they use every day so we work hard to recruit, hire and retain the best talent in every one of our job functions,” said Barb Schaefer, Union Pacific senior vice president – Human Resources. “It is our people who have made Union Pacific one