TrinityRail

Canadian Pacific, CN continue to lobby for merger support

A photograph of a CN train traveling through a field.

Rivals Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) are still at work seeking to convince the Surface Transportation Board (STB), industry stakeholders and Kansas City Southern (NYSE: KSU) shareholders which Canadian railway is the best company suited to merge with Kansas City Southern (KCS).

CP and KCS had announced plans to merge in March, while CN said in April that it is also interested in acquiring KCS. Both CP and CN are Canadian railways, and they propose that a merger with KCS would...

https://s29755.pcdn.co/news/canadian-pacific-cn-continue-to-lobby-for-merger-support

Railcar lessors and rail manufacturers eye recovering market in 2021

A photograph of hopper cars on a train track.

The market for freight railcars is showing signs of improvement but data for railcar orders, deliveries and backlogs still reflects current market softness.

Railcar orders rose by 80% to 6,227 railcars in the first quarter of 2021 from the fourth quarter of 2020, although orders are still below pre-pandemic levels, according to the Railway Supply Institute (RSI). 

In comparison to Q1 orders, the quarterly average for 2019 was about 9,300 railcars, RSI said. RSI’s American Railcar Institute...

https://www.freightwaves.com/news/railcar-lessors-and-rail-manufacturers-eye-recovering-market-in-2021

Trinity Industries eyes better market conditions in second half of 2021

A photograph of a tank car and two railcars parked in a rail yard.

Although market conditions are improving for Trinity Industries (NYSE: TRN), the railcar lessor and rail equipment manufacturer anticipates persistent headwinds through the first half of 2021 as prospective customers take a wait-and-see approach to gauging market demand.

“Market uncertainty as it relates to COVID-19 remains the predominant story on the economic and rail industry outlook. We see early indicators of a recovery with improving year over year railcar traffic volumes, slowing train...

https://www.freightwaves.com/news/trinity-industries-eyes-better-market-conditions-in-second-half-of-2021

TrinityRail permanently closing plant in Texas

Trinity Industries (NYSE: TRN) will permanently close a plant in Vidor, Texas, laying off 59 workers by April 30, according to a notice sent to state officials Tuesday.

Company officials said the facility’s closure is due to declining demand for railcars and maintenance services.

“As a result of the downturn in the rail maintenance sector, the number of orders for modifications and/or maintenance has significantly decreased,” Matt Tribolet, senior counsel for TrinityRail Maintenance Services,...

https://www.freightwaves.com/news/trinityrail-permanently-closing-plant-in-texas

Rail Roundup: TrinityRail rolls out tech platform; CP, Teamsters reach deal

A photograph of tank cars parked in a rail yard.TrinityRail offers new tech platform, acquires tank car maintenance provider

Trinity Industries’ (NYSE: TRN) arm TrinityRail has announced two new service offerings: a technology platform aimed at helping North American rail shippers track railcar fleets and the acquisition of Bay Worx Rail, a company that uses advanced robotics to clean tank cars.

The technology platform, Trinsight, will provide real-time intelligence of the location, conditions and status of rail equipment, TrinityRail said....

https://www.freightwaves.com/news/rail-roundup-trinityrail-rolls-out-tech-platform-cp-teamsters-reach-deal

Trinity Industries pinpoints focus on rail

A photograph of a tank car parked in a rail yard.

Railcar lessor and rail product manufacturer Trinity Industries (NYSE: TRN) will focus exclusively on servicing the rail industry as the company seeks to shore up its financial well-being.

The change comes as the company abruptly ended its trucking business earlier this month. Trinity also ended a logistics business.

Trinity has three goals for its new strategic framework to lower its financial breakeven point. Those goals are to optimize its railcar lease fleet, reduce the impact of cyclicality...

https://www.freightwaves.com/news/trinity-industries-pinpoints-focus-on-rail

Headwinds put pressure on Trinity’s leasing rates

A photograph of two hopper cars for the railroad.

Rates to lease railcars will likely face continued headwinds throughout the year given the drop in railcar loadings, Trinity (NYSE: TRN) executives said during the company’s first-quarter earnings call Thursday.

“Right now, we’re focused more on utilization to the extent that railcars are needed,” said Eric Marchetto, chief financial officer for Trinity, a railcar manufacturer and lessor. If a customer doesn’t need the cars, then there might not be a rate that would maintain that leasing...

https://www.freightwaves.com/news/headwinds-put-pressure-on-trinitys-leasing-rates