Press Releases

Iowa Interstate Railroad, Ltd. (a wholly owned subsidiary of RDC Domestic Holdings Corporation, an affiliate of Railroad Development Corporation of Pittsburgh, PA) announced today it will acquire three new Evolution™ Series locomotives from GE Transportation. The locomotives will be produced in early 2020 and used to transport grains, ethanol, metals and more across Iowa Interstate’s network between Chicago and Omaha.

GE Transportation (NYSE:GE) announced today at InnoTrans 2018 a new high-speed diesel engine program, which will serve the locomotive, marine and power generation segments. The engine platform will provide improved fuel efficiency and reliability, as well as lower lifecycle costs.

GE Transportation (NYSE:GE) will supply five diesel-electric locomotives to Korfez Ulastirma A.Ş., the subsidiary of Turkey’s largest refinery, Tüpraş, operating in railway transportation.

Wabtec Corporation (NYSE: WAB) today filed an amended preliminary proxy statement with the SEC relating to its proposed combination with GE Transportation. Wabtec and GE Transportation are progressing the proposed transaction toward an anticipated closing by the first quarter of 2019.

Wabtec Corporation (NYSE: WAB) today issued the following statement regarding its planned merger with GE Transportation:

Wabtec Corporation (NYSE: WAB) said it will exhibit at InnoTrans, the railway industry’s largest trade fair, to be held in Berlin, Germany, from Sept. 18-25. At the event, the company will focus on three key areas: Passenger Experience, Green Solutions and Whole-Life Support. Each will be represented in Freight Rail and Passenger Transit solutions on display, as well as in connectivity technologies.

Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced that it has priced a public offering of (i) $500 million of Floating Rate Senior Notes due 2021 (the “Floating Rate Notes”), (ii) $750 million of 4.150% Senior Notes due 2024 (the “2024 Notes”) and (iii) $1.25 billion of 4.700% Senior Notes due 2028 (the “2028 Notes,” and, together with the Floating Rate Notes and the 2024 Notes, the “Notes”). The Notes will be guaranteed by each of Wabtec’s current and future subsidiaries that guarantee its indebtedness under its credit agreement or any other debt of Wabtec or any other guarantor.

GE Transportation (NYSE:GE) announced today that CN (TSX: CNR) (NYSE: CNI) will acquire 60 additional locomotives, expanding the class I’s 200-unit order placed in December 2017.

Please take notice that Knorr-Bremse AG (Knorr) and Westinghouse Air Brake Technologies Corporation (Wabtec) have entered into a settlement with the United States Department of Justice relating to their respective employee recruiting, solicitation, and hiring practices.

A pilot project between GE Transportation (NYSE:GE) and the Port of Long Beach to enhance advance planning at the busiest port complex in North America is officially underway. Over the next two months, stakeholders across the Port will use GE’s Port Optimizer™ software to access data that will allow them to move cargo containers more efficiently.

Wabtec Corporation (NYSE: WAB) today reported second quarter results and increased its full-year guidance for revenues and earnings per diluted share.

GE Transportation (NYSE: GE) will supply Chilean private transport provider FCAB – Ferrocarril de Antofagasta with five diesel-electric locomotives in 2019. This is the first deal between the two partners and includes a parts, service and warranty agreement.

Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 12 cents per share, payable on Aug. 24, 2018 to holders of record on Aug. 10, 2018.

GE Transportation (NYSE:GE) and Ukrainian Railways celebrated today the first GE Evolution Series locomotive to be built as part of a framework agreement signed in early 2018. It is the first of 30 locomotives that are being built this year in support of the railroad’s effort to upgrade its fleet. Other items of exploration under the framework agreement include additional locomotives over 10 years, the modernization of locomotives in the railway’s legacy fleet, as well as long-term maintenance services.

Kansas City Southern (KCS) (NYSE: KSU) announced its U.S. and Mexico rail subsidiaries will acquire a combined total of 50 new locomotives from GE Transportation (NYSE: GE) to be delivered during 2019, as well as digital solutions to drive improved operational and fuel efficiency. With the North American rail market improving and freight volume up roughly 5% in 2017 and expected continued growth in 2018, the advanced locomotives will help KCS deliver on its expected future growth, while driving operational efficiencies across the KCS network.