Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
DARIEN, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today announced the completion of its previously announced sale to affiliates of Brookfield Infrastructure and GIC. Under the terms of the sale, each issued and outstanding share of G&W common stock converted into the right to receive $112 in cash. As a result of the completion of the sale, G&W’s common stock ceased trading on the NYSE prior to market open today and will no longer be listed for trading on the NYSE. “This transaction is an excellent outcome for all G&W stakeholders,” said Jack Hellmann, Chief Executive...
DARIEN, Conn. & LONDON--(BUSINESS WIRE)-- Freightliner, a subsidiary of Genesee & Wyoming Inc. (G&W) (NYSE:GWR), was named “Rail Freight Operator of the Year” at the 2019 Global Freight Awards, the UK’s flagship awards programme that recognises and rewards excellence across all freight sectors. This press release features multimedia. View the full release here: Genesee & Wyoming UK/Europe Region Intermodal Commercial Director Clive Slayford (center) accepts Freightliner's award for Rail Freight Operator of the Year at the 2019 Global Freight Awards, flanked by Peter Livey (left), MD of categor...
COFIELD, N.C.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W)(NYSE:GWR) announced at a ribbon-cutting today that its subsidiary North Carolina & Virginia Railroad Company, LLC (NCVA), a 56-mile short line freight railroad operating between Boykins, Va., and Tunis, N.C., has upgraded its entire line to handle 286,000-lb. railcar loadings. Enabling customers to ship and receive 286,000-lb. railcars, matching the capacity of the national railroads, increases NCVA’s competitiveness compared to other modes of transportation. The railroad’s infrastructure previously had been limited to 271,000-lb....
GENESEE & WYOMING INCO. (US), a company active in the Delivery Services industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date October 18, 2019, the closi...
LYONS, Ga.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W)(NYSE:GWR) today announced that its subsidiary Georgia Central Railway, L.P., a 211-mile short line freight railroad operating between Macon and Savannah, has upgraded its entire line to handle 286,000-lb. railcar loadings, matching the capacity of connecting national railroads. This press release features multimedia. View the full release here: Georgia Central Railway, a 211-mile short line freight railroad operating between Macon and Savannah, has upgraded its entire line to handle 286,000-lb. railcar loadings, matching the capacity o...
DARIEN, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W, or the Company) (NYSE:GWR) is aware of the complaint filed in New South Wales, Australia seeking an award of damages in connection with a right of first refusal provision in a commercial contract involving its majority-owned Australian subsidiary. The Company disputes the allegations made in the complaint and intends to defend itself appropriately. The Company undertakes no obligation to provide further updates and does not intend to comment further regarding the aforementioned matter. As previously disclosed, the Company expects ...
BAINBRIDGE, Ga.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W)(NYSE:GWR) today announced the opening of a Choice Terminal™ bulk transfer facility on its Georgia Southwestern Railroad, Inc. (GSWR) subsidiary in Bainbridge. This press release features multimedia. View the full release here: Genesee & Wyoming Inc. today announced the opening of a Choice Terminal™ bulk transfer facility on its Georgia Southwestern Railroad subsidiary in Bainbridge, Ga. (Graphic: Business Wire) Operated by G&W railroads, Choice Terminals transfer bulk materials – including agricultural products, aggregates, chemi...
WOODLAND, Calif.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today announced that two new U.S. EPA Tier 4-compliant low-emission locomotives completed trials and are now in service on its subsidiary California Northern Railroad Company (CFNR). This press release features multimedia. View the full release here: One of two new U.S. EPA Tier 4-compliant low-emission locomotives now in service on the California Northern Railroad (Photo: Business Wire) The new locomotives were purchased in conjunction with $3.7 million in grant funding from California’s Bay Area Air Quality Manageme...
Affiliates of Brookfield Infrastructure Partners and GIC struck an agreement to acquire short-line railroad specialist Genesee & Wyoming for $112 per share in cash; the transaction will make G&W a privately held entity. G&W’s board of directors unanimously approved the offer. In short, we are raising our fair value estimate to $112 per share to reflect Brookfield and GIC’s offer for all outstanding shares--our previous $74 fair value estimate reflects our take on G&W’s stand-alone prospect...
Affiliates of Brookfield Infrastructure Partners and GIC struck an agreement to acquire short-line railroad specialist Genesee & Wyoming for $112 per share in cash; the transaction will make G&W a privately held entity. G&W’s board of directors unanimously approved the offer. In short, we are raising our fair value estimate to $112 per share to reflect Brookfield and GIC’s offer for all outstanding shares--our previous $74 fair value estimate reflects our take on G&W’s stand-alone prospect...
Affiliates of Brookfield Infrastructure Partners and GIC struck an agreement to acquire short-line railroad specialist Genesee & Wyoming for $112 per share in cash; the transaction will make G&W a privately held entity. G&W’s board of directors unanimously approved the offer. In short, we are raising our fair value estimate to $112 per share to reflect Brookfield and GIC’s offer for all outstanding shares--our previous $74 fair value estimate reflects our take on G&W’s stand-alon...
DARIEN, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (NYSE:GWR) (“G&W”), together with Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN), GIC and Brookfield Infrastructure’s institutional partners (together referred to as the “Consortium”), are announcing an agreement pursuant to which affiliates of Brookfield Infrastructure and GIC will acquire G&W in a transaction valued at approximately $8.4 billion including debt (the “Transaction”). The Transaction will result in G&W becoming a privately held company. Under the new ownership, G&W will continue to focus on world class safety and outsta...
LONDON & DARIEN, Conn.--(BUSINESS WIRE)-- The dateline for the release should read: LONDON & DARIEN, Conn. (instead of LONDON & DAIREN, Conn.). This press release features multimedia. View the full release here: Freightliner Commercial Managers Richard Smith and Richard Stapleton, third and fourth from left, receive the Rail Freight Operator of the Year Award from (L-R) host Steve Davis; Jamie Hartles, CEO of sponsors Howard Tenens; and Robert Jervis, Logistics Portfolio Director of Clarion Events. (Photo: Business Wire) The corrected release reads: FREIGHTLINER WINS RAIL FREIGHT OPERATOR O...
Key Points: • The U.S. dollar is breaking its 16-month uptrend and is declining through its 200-day moving average and Gold is breaking to 6-year price highs. RS appears to be staging a reversal at a support level. (ex. GC00, GDX) • A number of Healthcare Sector names are breaking out or staging reversals. (ex. ITGR, CHE, XRAY, OMCL, MOH, WCG, ARWR, INCY, GILD, VRTX, IQV, MEDP, and CTLT)
COLUMBUS, Ohio--(BUSINESS WIRE)-- The U.S. Department of Transportation’s Federal Railroad Administration has awarded a Consolidated Rail Infrastructure and Safety Improvements (CRISI) Grant to the Ohio Rail Development Commission (ORDC) in the amount of $3,284,000. This grant, in combination with matching funds of $3,584,000 from the Indiana & Ohio Railway Company (IORY) and a $300,000 grant from ORDC will be used to rehabilitate the Port Delta Yard and construct mainline siding capacity in Delta, Ohio. The project involves the insta...
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