THREE subsidiary companies - Traintic, Trainelec and DTQ4 - set up by CAF, Spain, are being merged into one unit called CAF Power & Automation which will design and produce electric power distribution, communications and control systems for all types of rolling stock.
KIWIRAIL has begun the technical and legal process to revalue its assets to better reflect the revenue they generate. Under the revaluation KiwiRail's assets are likely to be revalued at approximately $NZ 1.1-1.3bn ($US 867m-1.02bn), significantly lower than their current book value of approximately $NZ 7.8bn.
NATIONAL Railways of Zimbabwe (NRZ) is technically insolvent, according to a report presented to the Zimbabwean parliament last week by the comptroller and auditor general, Mrs Mildred Chiri, who says most of the NRZ's equipment is life-expired, and the railway is afflicted by an ineffective tendering process.
WABTEC, United States, has acquired Mors Smitt, a manufacturer of electronic components for rail and industrial markets, from the investment company Eurazeo PME for around $US 88m.
Mors Smitt is based in the Netherlands and has operations in Britain, the United States, France, and both mainland China and Hong Kong. The company manufactures electronic relays, measurement devices, and controls for rolling stock and signalling as well as other applications such as power generation, petro/chemical and water treatment plants. It has annual sales of around $US 60m and employees around 350 people.
"Mors Smitt provides a variety of safety-critical components and will be a strategic complement to our existing rail and industrial product lines," says Mr Albert Neupaver, Wabtec's president and CEO. "The company's global presence adds to our international footprint with established manufacturing and distribution capabilities."