CHICAGO — Former TTX president and CEO Raymond C. Burton Jr. has died, the company has announced. Burton, 89, died June 19 in New York City. He was the company’s president and CEO from 1982 until his retirement in 2000, and is credited with modernizing the company, helping strengthen its financial condition and meet growing […]
Parallel Systems and Genesee & Wyoming short line Heart of Georgia Railroad this week began the first phase of testing of Parallel’s autonomous, battery-electric flat car. The initial round of testing of Parallel’s container car is being conducted near Glenwood, Ga., in conjunction with the Federal Railroad Administration. The equipment has already been put through […]
SAN FRANCISCO — Wells Fargo will sell its rail leasing equipment business to a newly formed joint venture of GATX Corp. and Brookfield Infrastructure, the financial company announced Thursday (May 29, 2025). The joint venture will purchase approximately 105,000 railcars for $4.4 billion; Brookfield will separately acquire the Wells Fargo rail finance portfolio of approximately […]
LAKE OSWEGO, Ore. — Ted Baun has joined the North American commercial team of The Greenbrier Cos. as senior vice president, and will become chief commercial officer in January 2026, the railcar manufacturer and rail services provider has announced. Baun will succeed Tim Schitter, retiring at the end of this year, as chief commercial officer. […]
CHICAGO — FreightCar America said net income totaled $50.4 million in the first quarter while revenue of $96.3 million fell 40.2% from the year-ago period. The Chicago-based railcar builder (NASDAQ: RAIL) delivered 710 units in the quarter ended March 31, down from 1,223 units in the previous-year quarter. Adjusted net income was $1.6 million, or 5 […]
CHICAGO — Manufacturer FreightCar America received orders for 1,250 railcars with a value of approximately $141 million during the first quarter of 2025, the company has reported. The orders represent about 25% of all new railcars in the quarter and about 36% in its addressable market. That represents the company’s largest market share of new […]
YOUNGSTOWN, Ohio — GATX, the rail equipment leasing company that owned one of the railcars in the East Palestine, Ohio, derailment, will not have to pay a portion of Norfolk Southern’s $600 million settlement with residents. After a trial that lasted more than three weeks, a federal jury in Youngstown on Wednesday found GATX Corp. […]
WASHINGTON — The probable cause of a yard collision that fatally injured a Norfolk Southern engineer in January 2024 was a conductor’s failure to ensure that hand brakes were set on a cut of cars, which allowed them to roll away and strike the engineer’s locomotive, the National Transportation Safety Board says. The incident occurred […]
Ken Rodig’s Gunnison City Old Town Line layout is fascinating for many reasons. The 22 x 36 Gn3 (1:22.5 proportion) model railroad was built on the benchwork of his former HO scale Ironwood System. The indoor large scale layout is set in southwestern Colorado and features industrial narrow gauge railroading in the 1950s. Steam locomotives of […]
LOS ANGELES — Parallel Systems, the company developing battery-electric railcars that operate autonomously, will launch testing this month on two Georgia railroads, Parallel said on Monday (April 14, 2025). The company also announced it had raised an additional $38 million in funding, bringing its total to date to about $100 million. “Federal Railroad Administration approval […]
ST. LOUIS — Intramotev, the startup company that converts conventional freight cars to battery-electric, self-propelled vehicles, has named rail industry veteran Harry Zander as its chief commercial officer. Zander brings more than 30 years of experience to Intramotev. Most recently, he served as chief revenue officer at shortline railroad holding company Patriot Rail. Zander previously […]
DALLAS — Trinity Industries saw revenue and profit fall in the fourth quarter on fewer deliveries of new railcars and said U.S. tariffs are expected to cut industry deliveries by 20% in 2025. On Thursday (Feb. 20), Trinity reported revenue for the three months ending Dec. 31 of $629 million, down from $798 million year […]
