Kansas City Southern to Buy 50 GE Locomotives
June 21 2018 - 10:05AM
Dow Jones News
By Colin Kellaher
Kansas City Southern (KSU) on Thursday said its U.S. and Mexico
rail units will acquire a combined total of 50 new locomotives from
General Electric Co.'s (GE) GE Transportation unit.
The locomotives, to be delivered during 2019, will be produced
at a GE plant in Fort Worth, Texas. The value of the order, which
includes GE's Tier 4 Evolution Series locomotives, wasn't
disclosed.
"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," Kansas City Southern said.
GE in May agreed to merge its railroad business with Wabtec
Corp. (WAB) in a deal valued at roughly $11 billion after examining
options for its transportation division, which has struggled with
falling profit and sales in recent years.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 21, 2018 09:50 ET (13:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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