Miscellaneous

HARRISBURG, Pa. – Gov. Edward G. Rendell has announced the investment of $2.6 million in 14 rail-freight projects across Pennsylvania. The projects are geared to preserve essential rail freight service in some areas, while stimulating economic development by generating new service in others, Rendell said in a news release. The investments represent the second phase of the 2006 Rail Freight Assistance Program (RFAP). “Investments in rail freight help fuel our ongoing economic recovery,” said Rendell, who this year increased the RFAP program from $8.5 million to $10.5 million. “Rail is an increasingly popular means of moving goods, not only throughout

WILMERDING, Pa. – Wabtec Corp. has completed the acquisition of Becorit GmbH, a leading manufacturer of technology-based friction products for the European railway industry, for $52.2 million in cash. Last week, Wabtec announced that it had signed a definitive agreement to acquire the company from U.K.-based BBA Aviation plc. Wabtec expects the acquisition to be accretive immediately. Based in Germany, Becorit has annual sales of about $30 million. Becorit manufactures a variety of brake shoes, pads and friction linings for passenger transit cars, freight cars and locomotives, including high-speed applications. The company also makes friction products for industrial markets such

LIGONIER, Pa. – Idlewild Park and the Ligonier Valley Rail Road Association are working together to preserve the historic Darlington Station. “We plan to restore the building to its 1930s grandeur and re-open it as a museum and resource center focused on the Ligonier Valley Rail Road and related industry,” said Bill McCullough, President and co-founder of the LVRRA. Idlewild Park and Soak Zone, and Kennywood Entertainment, have agreed to sub-divide and grant the property to the LVRRA and the lead grant awarded by the Richard King Mellon Foundation will allow the Association to restore the exterior of the building

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ANCHORAGE, Alaska – The Alaska Railroad Corp. (ARRC) will issue tax-exempt bonds in this month to finance rail transportation projects. During the last legislative session, the Alaska Legislature voted unanimously to allow ARRC to issue up to $165 million in tax-exempt bonds backed by Federal Transit Administration (FTA) formula funds that the Corporation receives annually. ARRC is moving forward with its first issuance of approximately $76 million in tax-exempt bonds in 2006 with the remaining debt to be issued in future years. “This is a historic moment for the Alaska Railroad and Alaskans,” said Governor Bill Sheffield, Chairman ARRC Board