Latest Rail Industry News
On June 29, Canadian Pacific (TSX/NYSE: CP) announced that the section of the CP main line east of Medicine Hat, Alberta, that has been closed since June 18 on account of flooding has been reopened.
Last week, the board of directors of the National Railroad Museum announced the appointment of Jacqueline Frank as the new executive director of the museum, after a unanimous vote of the Museum's directors.
On June 28, L.B. Foster Company (Nasdaq: FSTR) announced that the Court of Common Pleas of Allegheny County, Pa., had dissolved the preliminary injunction issued on April 21, 2010, that had enjoined the completion of L.B. Foster's tender offer for all of the common stock of Portec Rail Products, Inc.
On June 28, Kansas City Southern (KCS) (NYSE: KSU) announced that the KCS board of directors had elected Michael R.
On June 28, Mitsubishi Electric Corporation announced that it has received international railway industry standard (IRIS) certification for its railcar air conditioners. The company plans to accelerate its railcar equipment business, with a goal 230 billion yen in global sales by fiscal 2016.
Intermodal volume on U.S. freight railroads for the week ended June 19, 2010, reached its highest level since the 45th week of 2008, the Association of American Railroads (AAR) reported on June 24. Intermodal traffic totaled 227,985 trailers and containers, up 21.2% from last year but down .2% from 2008.