Miscellaneous

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Miscellaneous

Plans Call for Steam to Ride the Norfolk Southern Rails Again, Through Display and Excursion Program with TVRM

June 30, 2010 Railfanning.org News Wire
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.
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Miscellaneous

L.B. Foster Announces Dissolution of Preliminary Injunction on Proposed Acquisition of Portec Rail Products

June 29, 2010 Railfanning.org News Wire
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
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Miscellaneous

Genesee & Wyoming Reports Results for the First Quarter of 2010

April 29, 2010 Railfanning.org News Wire
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
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Miscellaneous

L.B. Foster and Portec Rail Products Announce Preliminary Injunction Enjoining Tender Offer

April 25, 2010 Railfanning.org News Wire
PITTSBURGH — L.B. Foster Co. and Portec Rail Products have announced that on April 21, the Court of Common Pleas of Allegheny County, Pa., issued a preliminary injunction enjoining the completion of L.B. Foster’s tender offer to acquire all of Portec’s issued and outstanding common stock. L.B. Foster and Portec are reviewing the Court’s opinion with their advisors to determine a future course of action. L.B. Foster Company is a leading manufacturer, fabricator, and distributor of products for the rail, construction and utility and energy markets with approximately 30 locations throughout the United States. Established in 1906, Portec has served