Koppers Inc., a
wholly-owned subsidiary of Koppers Holdings Inc., said that it has completed a
transaction to acquire the rail joint business product line and related
manufacturing facility of Portec Rail Products, Inc. for a purchase price of
$10.1 million less certain assumed liabilities, subject to certain working
capital and other adjustments. The purchase price was funded with cash on hand.
Transportation Secretary Gary Hannig said that a historic public-private
partnership agreement on high-speed rail development is in place to bring
Illinois one giant step closer to achieving high-speed passenger service
between Chicago and St. Louis by 2014.
L. B. Foster Company announced
the expiration of the subsequent offering period offered by its wholly-owned
subsidiary, Foster Thomas Company, for its cash tender offer for all outstanding
shares of common stock of Portec Rail Products, Inc. The subsequent
offering period expired at 5:00 p.m., New York City time, on December 21, 2010.
MTA NYC Transit reopened
the Rockaway Park-bound platforms at the Beach 105th Street-Seaside and Beach 90th
Street-Holland stations. The rehabilitation of
these stations is part of a $117-million project encompassing nine stations on
the Rockaway Peninsula.
Tracks between San Juan
Capistrano and Oceanside, Calif., remain closed due to mudslides. Trains are
only operating as far south as Laguna Niguel. Metrolink is continuing
to provide bus transportation between Oceanside and Laguna Niguel.
With a new majority in
the House, a new chairman and many new members of the House Transportation and
Infrastructure Committee, as well as a changing national economic picture, it
is worth asking the question, "What's ahead for transportation in
2011?" The American Association
of State Highway and Transportation Officials (AASHTO) has compiled a list of very distinct - and pressing
- issues that loom at the local, state, and federal levels.
The Association of American
Railroads released the 2010 Edition of Railroad Facts - the premier industry statistical reference book.
The publication notes that in 2009, rail traffic experienced the largest
percentage decrease since 1949 with carloads down 15.1 percent and ton-miles
down 13.8 percent, but that aggressive cost management by railroads helped to
bolster year-end performance and allowed for record capital investment totaling