American Railcar Industries Inc. (ARI) announced today that it has entered into a definitive agreement to merge with a subsidiary of ITE Rail Fund LP in a transaction valued at $1.75 billion.
The merger is expected to close in the fourth quarter. ITE Rail Fund is managed by ITE Management LP.
The Oregon Department of Transportation (ODOT) has unveiled a draft environmental impact statement for a proposed passenger-rail service between Portland and the Eugene-Springfield region.
The document outlines two alternatives for the 125-mile service: One would follow the existing Amtrak Cascades route; the other would include a new route between Springfield and Oregon City along Interstate 5.
The Chicago Transit Authority (CTA) late last week proposed a five-year $2.9 billion capital budget and a one-year $1.55 billion operating budget that maintains existing service levels without raising fares.
The proposed operating budget for 2019 calls for maintaining existing service levels without raising fares. It invests in modernizing the CTA's system and improving the rider experience, agency officials said in a press release.
Three rail suppliers in three states hosted business tours this month for U.S. Senate and House representatives.
Loram Maintenance of Way Inc. welcomed U.S. Rep. Tom Emmer (R-Minn.) for a visit to the company's manufacturing plant and warehouse in Medina, Minnesota. The Oct. 16 visit included a town hall session and discussion between Emmer and Loram employees about the need for skilled laborers, Loram officials said in a press release.
Contact Progressive Railroading editorial staff.
Las Vegas Railway Express Inc. announced yesterday it is changing its name to United Rail Inc.
The Las Vegas company — owner of the X Train brand and brand licensor — acquired United Rail in January.
TEXRail this week tested its new Stadler trains at Dallas/Fort Worth International Airport.
The units — Stadler's Fast Light Intercity- and Regional Train (FLIRT) model — passed dynamic testing on Oct. 10, which puts TEXRail one step closer to launching rail service, Stadler and TEXRail officials said in a press release.
BNSF Railway Co. has designated Kiamichi Railroad Co. as the Class I's 2018 Short Line of the Year for its commitment to "safety, service, growth, investment and velocity."
A subsidiary of Genesee & Wyoming Inc., Kiamichi is a Class III serving Texas, Oklahoma and Arkansas, interchanging with BNSF in Madill, Oklahoma.
The California Transportation Commission (CTC) yesterday allocated $91.2 million to Metrolink to advance projects aimed at boosting rail safety and service ahead of the 2028 Olympic Games in Los Angeles.
The Transit and Intercity Rail Capital Program grant will go toward the first projects in the Southern California Optimized Rail Expansion (SCORE) program, a $10 billion plan to build infrastructure enabling at least 30-minute service frequency in the region.
Kansas City Southern today reported record revenue of $699 million for the third quarter, a 6 percent increase over the same period in 2017.
Third-quarter net income rose to $174 million, or $1.70 per diluted share, from $129 million, or $1.23 per diluted share, a year ago.
Kansas City Southern today reported record revenue of $699 million for the third quarter, a 6 percent increase over the same period in 2017.
Third-quarter net income rose to $174 million, or $1.70 per diluted share, from $129 million, or $1.23 per diluted share, a year ago.
Canadian Pacific yesterday reported third-quarter net income of CA$622 million and revenue of CA$1.9 billion, up from net income of CA$510 million and revenue of CA$1.6 billion in the same period a year ago.
This year's third-quarter revenue marked the company's highest revenue ever for any quarter, according to a CP press release.
Canadian Pacific yesterday reported third-quarter net income of CA$622 million and revenue of CA$1.9 billion, up from net income of CA$510 million and revenue of CA$1.6 billion in the same period a year ago.
This year's third-quarter revenue marked the company's highest revenue ever for any quarter, according to a CP press release.
As wildfires continue to rage in the western United States, Lonza has reported growing interest in its FireSheath WFS Net product.Photo – Lonza Wood Protection
By
MTA Metro-North Railroad crews on Oct. 9 installed 1,161 ties along the Waterbury Branch, marking the railroad's largest number of ties installed in a single day.
The figure surpassed by two ties the previous record set in 1984 between Brewster and Dover Plains on the Harlem Line.
Sound Transit has appointed Tracy Butler chief financial officer.
She joined the agency as treasurer in 2007 and most recently served as interim CFO. In 2016, Butler negotiated Sound Transit's $2 billion master credit agreement with the U.S. Department of Transportation, agency officials said in a news release.
U.S. railroads logged a 1.7 percent increase in carload and intermodal traffic for the week ending Oct. 13 compared with traffic a year ago, according to the Association of American Railroads (AAR).
U.S. carload traffic rose 0.4 percent to 263,787 carloads for the week, while intermodal volume increased 3 percent to 285,970 containers and trailers compared with the same week in 2017, according to an AAR press release.
New York Gov. Andrew Cuomo is calling on President Donald Trump and other Washington, D.C., officials to "stop playing politics" and fund the federal government's share of the Hudson tunnel project.
Cuomo made the comments late last night as he toured the North River tunnels to see the damage both tubes sustained during Hurricane Sandy in October 2012. The tubes were inundated with seawater, causing falling concrete, corroded electrical cabling and standing water damage.
The Southeastern Pennsylvania Transportation Authority (SEPTA) has released a request for proposals (RFP) to purchase electricity generated by wind, solar or other renewable resources.
The agency wants to transition 10 percent to 20 percent of its annual electricity requirement to zero-carbon sources from its current mix of grid-based sources, SEPTA officials said in a press release.
Federal Railroad Administrator Ronald Batory yesterday completed a second series of meetings with positive train control (PTC) system suppliers as part of the Federal Railroad Administration's (FRA) oversight of the rail industry's implementation of the safety technology.
Batory met with senior leaders of suppliers that are directly associated with the eight railroads most at risk of not meeting the federal mandate that calls for railroads to implement PTC by Dec. 31 or meet certain criteria that would allow for a deadline extension.