Rail News Home Norfolk Southern Railway 1/29/2021 Rail News: Norfolk Southern Railway
Norfolk Southern Railway today announced it assisted 86 businesses in locating new or expanded facilities on its network in 2020.Across 18 states, NS customers invested $1.8 billion to open 70 new plants and expand 16 rail-served facilities. The industrial development is expected to create more than 2,960 customer jobs and generate over 54,300 carloads of new volume annually for NS."Despite the impacts of COVID-19, rail-served industrial development in our service area remained steady overall throughout 2020," said Kathleen Smith, NS vice president of business development and real estate, in a press release. "We have a solid pipeline of business development opportunity in 2021 beyond across our automotive and industrial product markets."The largest industrial development projects last year include a medical products production facility in Linwood, North Carolina; a paper-packaging products plant in Palmyra, Pennsylvania; a roofing shingle manufacturing facility in Avery, Ohio; a grain-related expansion in Portage, Indiana; a steel mill expansion in Calvert, Alabama; and automotive-related projects in Tennessee, Alabama, West Virginia, Georgia and Pennsylvania.Over the past decade, NS has supported the location of 872 new or expanded facilities representing $58 billion in private investment along its network.
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Rail News Home Canadian Pacific 1/28/2021 Rail News: Canadian Pacific
The railroad's OR of 53.9%, down from 57% in Q4 2019, reached a record low.Photo – cpr.ca
The railroad's OR of 53.9%, down from 57% in Q4 2019, reached a record low.Photo – cpr.ca
Canadian Pacific yesterday reported higher fourth-quarter 2020 profit on lower revenue compared with Q4 2019, as well as a record operating ratio (OR).
The Class I posted Q4 net income of CA$802 million compared with CA$664 million in Q4 2019. Diluted earnings per share (EPS) jumped 23% to $5.95 from $4.82, while adjusted diluted EPS rose 6% to $5.06 from $4.77.