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KCS issues statement on Mexican competition panel's rail-service report

Rail News Home Kansas City Southern 3/25/2019 Rail News: Kansas City Southern
imageThe Mexican Federal Competition Commission (COFECE) has issued a preliminary report that assesses freight-rail service for certain chemical and petrochemical products shipped on certain routes in the Mexican state of Veracruz, Kansas City Southern confirmed late last week.The preliminary report is limited to 31 routes with each route tied to a specific product. Kansas City Southern de Mexico (KCSM) serves limited portions of seven of the routes. Last year, KCS' revenue associated with those routes amounted to less than $3 million, company officials said in a press release.The report's issuance has no impact on KCSM's current business, operations or rights under the concession.KCSM officials plan to file a challenge to the preliminary report. If the COFECE panel confirms a "lack of effective competition" on any of the routes identified in the report, then Mexico's Railway Regulatory Agency would initiate remedies that could include mandatory trackage rights, service conditions and rates, KCS officials said.

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Today, Kansas City Southern reported record fourth-quarter revenue of $694 million, up 5 percent compared with the total in fourth-quarter 2017.

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Kansas City Southern's Wochner to retire as SVP, chief legal officer

Kansas City Southern yesterday announced the retirement of W. James Wochner as senior vice president and chief legal officer, effective March 31, 2019.

In addition, Adam Godderz will be promoted from associate general counsel and corporate secretary to general counsel and corporate secretary for KCS and the Kansas City Southern Railway Co. on Jan. 1, 2019, company officials said in a press release.

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Kansas City Southern to kick off Holiday Express tour

Kansas City Southern's 18th annual Holiday Express will distribute a total of $171,756 in gift cards to The Salvation Army at stops along its route starting Nov. 21.

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KCS reports record revenue despite a 'challenging' Q3

Kansas City Southern today reported record revenue of $699 million for the third quarter, a 6 percent increase over the same period in 2017.

Third-quarter net income rose to $174 million, or $1.70 per diluted share, from $129 million, or $1.23 per diluted share, a year ago.

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