Financial

EUROPEAN wagon leasing company VTG says it has reached a significant milestone in the takeover of Nacco, one of its smaller competitors, with the signing of purchase agreements by a…
NIPPON Sharyo announced on July 24 that its US subsidiary will close its rolling stock assembly plant in Rochelle, Illinois, at the end of this month due to a lack…
THE Brazilian National Bank for Economic and Social Development (BNDES) has approved a loan of Reais 2.89bn ($US 760.2m) to Rumo North and Rumo South, subsidiaries of the Cosan Group,…
GREENBRIER announced on August 8 it has acquired a 68% stake in Turkish freight wagon manufacturer Rayvag, expanding its European operations in an area it says offers a key connection…
THE United States Congress is moving towards a one-year ban on the use of federal funding for the purchase rolling stock from Chinese government-owned or subsidised companies, according to Mr…
THE project director of Hong Kong’s Shatin to Central Link (SCL) has resigned and MTR CEO Mr Lincoln Leong Kwokkuen is to retire early in the wake of recent issues…
KNORR-Bremse announced on August 6 it will sell its British-based businesses, Knorr-Bremse RailServices and Kiepe Electric, to Munich-based holding company, Mutares, with closing expected by autumn 2018.  
VOSSLOH announced on August 3 that it had signed a contract with international engineering enterprise Laing O’Rourke for the acquisition of Australian concrete sleeper manufacturer Austrak, with closing expected in…
SIEMENS’ Mobility division will be transferred into a legally separate company owned by Siemens in anticipation of its merger with Alstom, as part of a Siemens’ company-wide restructuring announced on…
SIEMENS’ Mobility Division recorded an 8% increase in orders to €2.5bn in its third quarter financial results released in Munich on July 2, a 4% increase in revenue to €2.1bn,…
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