Latest Rail Industry News
Pacer International, seeking to settle a contracting issue central to the company's intermodal business, announced Tuesday it reached a multi-year agreement with Union Pacific Railroad for new rates and conditions for the movement of domestic 48- and 53-foot containers on the UP network.
Warren Buffett, a long-time investor in railroad stocks, announced a move Tuesday to acquire all of Burlington Northern Santa Fe Corp.
Norfolk Southern and the Commonwealth of Pennsylvania are investing $11 million in the railroad's Philadelphia Navy Yard intermodal facility to expand track and parking capacity, the railroad announced on Nov. 2.
VIA Rail Canada on Oct. 30 announced a $19.5 million program for the reconfiguration of 12 of the passenger cars used on its western transcontinental train, the Canadian, to increase its accessibility and market appeal.
Third-quarter revenues for rail car builder Trinity Industries were about half of what it reported for the same period last year.
The Association of American Railroads on Oct. 29 reported that rail traffic remained down year over year for the week ended Oct. 24, 2009, although carloadings did climb slightly from the previous week.
L.B. Foster Company, the Pittsburgh-based railroad supply company, has again made Forbes Magazine's annual list of America's 200 Best Small Companies.