Central European freight company EP Logistics International acquired a 100% stake in Czech leasing and railway staff training company LokoTrain on March 30, purchasing the 35% held by co-owner and founder Evžen Nečas.
Alstom has acquired high power hydrogen fuel cell company Helion Hydrogen Power from Areva Energies Renouvelables, and renamed it as Alstom Hydrogène. ‘Alstom will focus on developing the full potential of the innovative technology and expertise of this promising company’, said President of Alstom France Jean-Baptiste Eyméoud on April 1. ’This transaction is in line with Alstom’s strategy to extend and enhance its expertise in sustainable, intelligent mobility.’
The Greenbrier Companies (90%) and Longwood Group (10%) have completed the formation of GBX Leasing, which will acquire and manage newly-built and leased wagons worth $200m/year from Greenbrier. The initial equity investment is tax-advantaged as a result of the five-year net operating loss carryback provision in the Coronavirus Aid, Relief & Economic Security Act, bonus depreciation and the MACRS depreciation system. ‘GBX Leasing creates a new annuity stream of tax-advantaged cash flows, while reducing Greenbrier’s exposure to the new railcar order and delivery cycle’, said Greenbrier CEO and Chairman William A Furman
Mayor of Greater Manchester Andy Burnham has opened Xrail Group’s office extension. ‘The decision to expand and open an office in Manchester was a logical step in our business growth strategy’, said CEO Munir Patel. ‘We believe that it’s critical that we meet clients where they live to service them most effectively.’
FreightCar America has reported consolidated revenues of $108m for the year to December 31 2020, compared to $230m for 2019. It delivered 600 new and 151 rebuilt wagons, down from 1 728 new and 548 rebuilt wagons in 2019. The operating loss of $80·6m, up from $75·6m in 2019, included $18·3m relating to restructuring and impairment charges and $19·0m relating to impairment on leased wagons. The company ceased operations at the Shoals plant at Cherokee, Alabama, on February 28 2021 as planned, and is ramping up manufacturing at Castaños in Mexico to produce 1 400 to 1 600 wagons this year. ‘2020 was a transformative year’, said President & CEO Jim Meyer, adding that company is ’to pivot from restructuring to growing’.
Alstom has acquired French company Flertex, which specialises in the design and manufacture of brake linings for rail and industrial applications. More than half of its €16m turnover comes from the rail industry, mainly in France and Europe but also in Latin America.
ORR Safety, which provides personal protective equipment to five Class I and 196 short line railways, has joined the American Short Line & Regional Railroad Association’s member discount programme. ‘During the early stages of the pandemic, railroads and other front-line workers were challenged to find PPE. We are pleased to bring ORR Safety onboard to ensure that ASLRRA’s members have a trusted partner that can be relied upon to supply our industry with necessary and innovative products, keeping railroad employees safe as they work tirelessly toward economic recovery’, said ASLRRA President Chuck Baker.
Berlin-based startup LiveEO, which analyses satellite imagery using artificial intelligence to monitor infrastructure such as railways, has closed a €5·25m Series A investment round with the venture capital firms Btov Partners, Helen Ventures, DvH Ventures, Motu Ventures and investor Andreas Kupke.
European investment group Aurelius has agreed to buy SSE plc’s UK Contracting & Rail business, which undertakes mechanical, electrical and civils activity for customers included Transport for London and Network Rail. The sale for an undisclosed price is expected to be completed by the end of June.
