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October 19, 2018

Deals and M&As this week: Harsco Rail, Ansaldo STS Malaysia, NRC Group

The Metropolitan Transportation Authority (MTA), a public transportation agency operating in New York, has awarded a contract to Harsco Rail for the construction of flat rail cars.

The Metropolitan Transportation Authority (MTA), a public transportation agency operating in New York, has awarded a contract to Harsco Rail for the construction of flat rail cars.

Valued at $40m, the contract will involve the development of 65 rail cars over a period of seven years. The first car to be built under the contract will be delivered by July 2019.

The fleet will be deployed on the New York City Transit’s subway system. The new flat rail cars aim to enhance the operational efficiency and ride quality offered by the subway.

Ansaldo Signalling and Transportation Systems (STS) Malaysia has been awarded a contract worth MYR264m ($63m) to deliver railway signalling systems for a 198km-long track located between Gemas and Johor Bahru.

The contract includes the supply of a MicroLok II interlocking-based mainline signalling system and wayside automatic train protection (ATP) system.

“A total of 11 stations and the Kempas Baru Depot will be upgraded with the new signalling system.”

Ansaldo will also deliver control systems, which will be deployed at the control centres in KL Sentral and Gemas.

A total of 11 stations and the Kempas Baru Depot will be upgraded with the new signalling system.

Norway-based infrastructure firm NRC Group has agreed to purchase VR Track in a transaction worth €225m ($260.55m).

VR Track is a subsidiary of VR Group, a state-owned railway operator based in Finland.

The acquisition will create a specialised rail infrastructure company with revenues of more than Nkr6bn ($734m) a year.

The cash and debt-free transaction will be funded through a combination of cash (65%) and equity (35%).

VR Group will emerge as the majority stakeholder in NRC Group with an 18.3% stake.

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