Financial Archives - Page 243 of 388 - International Railway Journal

Financial

November 11, 2019 | Financial

Chinese group to buy British Steel for £70m

JINGYE Group, China, has reportedly agreed to purchase British Steel for £70m, a move that would save the struggling manufacturer from bankruptcy and rescue up to 4000 jobs.

November 11, 2019 | Main line

Austrian court rules in favour of lower access charges

AUSTRIA’s Federal Administrative Court has ruled that the Austrian rail regulator Schienen-Control must revise its approval of ÖBB Infrastructure’s track access charges for 2011-2017.

November 8, 2019 | Financial

PKP InterCity could receive 10-year direct award contract under government plans

THE Polish Ministry of Infrastructure has released a draft amendment to the National Transport Plan which includes awarding PKP InterCity a 10-year direct-award operating contract from 2019 worth up to €4.6bn, a major increase compared with the existing €1.1bn 2011-2021 contract PKP InterCity is currently operating under.

November 8, 2019 | Financial

Siemens Mobility reports strong order intake but flat revenue for 2019

THE Mobility division of Siemens achieved a 16% increase in order volume to €12.9bn for the 2019 financial year ending September 30, and an order backlog of €33bn.

November 8, 2019 | Financial

SNCF to increase stake in Westbahn following EMU dispute

SNCF has announced that it will increase its stake in Railholding, the owner of Austrian open-access inter-city operator Westbahn, from 17.4% to 25.1%.

November 6, 2019 | High-speed

Beijing - Shanghai high-speed operator submits IPO plans

BEIJING-Shanghai High Speed Railway has announced a plan for an initial public offering (IPO), submitting a formal application to float on the Shanghai stock market.

November 5, 2019 | Commuter Rail

MBTA commits to major commuter rail upgrades

THE Massachusetts Bay Transportation Authority’s (MBTA) Fiscal and Management Control Board unanimously passed five resolutions on November 4, launching a process to upgrade Boston’s 610km commuter rail network to something more akin to an electrified metro, with a price tag of up to $US 28.9bn.

November 1, 2019 | Financial

Bombardier reports strong third quarter order intake

BOMBARDIER has announced its third quarter results, recording a 2% increase in revenue from $US 3.6bn during the same period in 2018 to $US 3.7bn in 2019. This included $US 2.2bn in revenue from Bombardier Transportation, which was also up 2%, mainly from services.

October 31, 2019 | Financial

Progress Rail announced as buyer of Vossloh’s Cleveland Track Material

PROGRESS Rail has signed an agreement to acquire Vossloh North America’s Cleveland Track Material (CTM) subsidiary.

October 25, 2019 | Financial

Sales up but Ebit down for Vossloh in nine-month results

VOSSLOH’s sales improved by 6.2% from €623.2m to €662.1m in the first nine months of 2019, largely due to acquisitions in 2018. Vossloh also recorded an 11.7% increase in orders received from €684m to €763.9m.

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