Railway supply industry news round-up

first_imgNovocherkassk Electric Locomotive Plant has obtained certification for the use of its DTK-417K traction motors in the Eurasian Customs Union countries. Designed for use on TMH Bryansk type 2TE25KM, TEM18DM and 3TE25K2M diesel locomotives, these will replace motors previously imported from Ukraine.The Greenbrier Companies received orders for 700 wagons worth $50m in Q2 to February 28 2017, when its backlog stood at 22 600 vehicles worth $2·44bn. ‘We are focused on our two-part strategy to protect and enhance core North American businesses during this time of market inconstancy while we also expand internationally in targeted regions that offer promising growth opportunities’, said Chairman & CEO William A Furman on April 5. ‘We are encouraged by the upward trend in rail traffic, order activity in our current quarter, and earnings contribution from our activities in international markets.’ Swiss Federal Railways has become the eighth member of the Railsponsible sustainable procurement initiative. Politechnika Warszawska is the fifth Polish institution to be approved to provide type approval and conformity certification services.Wireless technology companies Lilee Systems and Fluidmash are to collaborate to offer high bandwidth train to ground data communication links.Praybourne has adopted Pulsar as the sole brand for its range of hi-visibility, flame resistant, thermal and other protective clothing.Solar power producer Azure Power has won a contract to provide roof-top electricity generation across the Indian Railways network and at the Rail Coach Factory in Kapurthala. The company recently completed the first phase of a similar project with Delhi Metro Rail Corp.Vibration protection company Getzner Werkstoffe reports that 2016 was a successful year, with turnover up from €77·9m in 2015 to €80·4m in 2016. Highlights of the year included the opening of the Gotthard Base Tunnel with custom-designed Getzner vibration protection, and the launch Sylomer aluminium vibration-damping elastic floating floors for rolling stock.last_img read more

William Hill rejects ‘risky’ Rank-888 consortium bid

first_img Related Articles GVC hires ‘comms pro’ Tessa Curtis to re-energise media profile  August 25, 2020 SBC Magazine Issue 10: Kaizen Gaming rebrand and focus for William Hill CEO August 25, 2020 Share William Hill accelerates transformation agenda to overcome COVID realities August 5, 2020 Submit StumbleUpon Share Gareth DaviesThe board of William Hill Plc has moved to reject the £3.3 billion takeover bid proposed by the strategic consortium of Rank Group and 888 Holdings.Quick to reject Rank and 888’s offer which was formally issued this afternoon, William Hill governance stated that the proposed deal ‘substantially undervalued’ its corporate enterprise, choosing not to forward the bid to its investors.Advised by Citi Group and Barclays, William Hill governance stated that it ‘unanimously rejected the Proposal’, further noting that it saw no enhanced value in merging its operations with Rank and 888 assets.William Hill would further detail concerns regarding a ‘complicated three-way combination’ which would be leveraged by approximately £2.2 billion in refinanced debt, in order to complete the deal.Updating the market, Gareth Davis, Chairman of William Hill declared“This conditional proposal substantially undervalues William Hill, is highly opportunistic and does not reflect the inherent value of the business.  It is a very complex three-way combination at a low premium involving substantial risk for William Hill shareholders: execution risk, integration risk and risks of materially increased leverage. The Group has a strong team to deliver against our strategy to grow our digital and international businesses so we strongly advise that shareholders take no action.”The UK gambling industry now awaits whether the Rank and 888 will move to make a further bid for William Hill, or whether the consortium parties will merger separately.last_img read more