Siemens Alstom merger blocked by European Commission

06 Feb 2019

‘Siemens and Alstom are both champions in the rail industry’, explained Commissioner in charge of competition policy Margrethe Vestager when she made the announcement on February 6. ‘Without sufficient remedies, this merger would have resulted in higher prices for the signalling systems that keep passengers safe and for the next generations of very high speed trains. The Commission prohibited the merger because the companies were not willing to address our serious competition concerns.’

For CN, a strong 2018 finish

Written by William C. Vantuono, Editor-in-Chief
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CN President and CEO JJ Ruest.

CN, in reporting financial and operating results for fourth-quarter and full-year 2018, noted that the year ended on a strong note, “driven by solid top-line growth and significantly improved operating efficiency.”

Fourth-quarter 2018 compared to fourth-quarter 2017

  • Revenues of C$3.81 billion, an increase of 16%.
  • Diluted EPS of C$1.56, a decrease of 55% and adjusted diluted EPS of C$1.49, an increase of 24%. Included in diluted EPS in the fourth quarter of 2017 was a deferred income tax recovery of C$2.35 per diluted share resulting from the enactment of a lower U.S. federal corporate income tax rate.
  • Operating margin of 38.1%, an increase of 0.8 points (operating ratio of 61.9%).)
  • Adjusted operating margin of 38.8%, an increase of 1.5 points (adjusted operating ratio of 61.2%).
  • Operating income of C$1.45 billion, an increase of 19%. (2)

Rail News: Canadian Pacific

CP and grain: New high efficiency train, new monthly volume mark

G3 Canada Ltd. built a loop track at its Pasqua elevator to handle CP's HEP trains.
Photo – Canadian Pacific

Canadian Pacific yesterday unveiled its first 8,500-foot high efficiency product (HEP) grain train at G3 Canada Ltd.’s Pasqua elevator near Moose Jaw, Saskatchewan.

The HEP train features more efficient hopper cars and is designed to move about 44 percent more grain than the Class I’s prior generation of grain train. The new hopper cars feature a capacity 10 percent greater by weight than older-model Canadian government cars, and can hold 15 percent more volume.

Light rail project off; Vancouver SkyTrain funded

Written by David Burroughs, News & Features Writer, International Railway Journal

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The Translink Mayors’ council, which oversees Metro Vancouver’s public transport operator, has voted to suspend the C$1.65 billion ($1.2 billion) development of a light rail network in Surrey, the second-largest city in British Columbia.

The Council instead favors the extension of Vancouver’s SkyTrain automated metro network through the city which is expected to cost up to C$2.9 billion.

Rail News - CN orders 60 more GE locomotives. For Railroad Career Professionals

CN orders 60 more GE locomotives

All the CN locomotives will be produced at GE's plant in Fort Worth, Texas.
Photo – GE Transportation's Twitter account

CN will purchase another 60 GE Transportation locomotives, expanding the Class I's 200-unit order placed in December 2017, the Class I and GE announced today.

Federal government and province commit more than $3B for Broadway subway project and Surrey LRT

Prime Minister Justin Trudeau was in Surrey, B.C., Tuesday to confirm the federal government's funding commitment to two major Metro Vancouver transit projects. (CBC)
The federal and provincial governments re-announced their commitment Tuesday to more than $3 billion in funding for the Broadway subway and Surrey LRT projects.
Prime Minister Justin Trudeau was joined by B.C. Premier John Horgan, Vancouver Mayor Gregor Robertson and Surrey Mayor Linda Hepner at the Surrey campus of Simon Fraser University. 
Trudeau confirms $1.37B in federal funding for Metro Vancouver transit projects | CBC News
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