GE Offers New Locomotives to Florida Railway, Shares Flat
GE Transportation, an operating unit of General Electric Company (GE), recently offered first of 24 new Tier 3 ES44C4 locomotives to Florida East Coast Railway (:FECR). All of the remaining Evolution series locomotives will be placed in service by the end of 2014. Following this announcement, the company's shares remained flat in regular trading last Friday.
The purchase of these locomotives will ensure efficient horsepower needed by FECR to support the transportation requirements of intermodal, carload, auto and port business, which would eventually boost Florida’s economy. The locomotives will be used in thru-freight, heavy-haul service on the railway's Jacksonville-Miami mainline.
These new locomotives with advanced engine technology will ensure higher fuel efficiency for FECR, lower its operating costs, meet the U.S. EPA Tier 3 emissions standards and support current operations and future growth of the railroads.
General Electric is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital.
GE Transportation provides technology solutions for customers in a variety of industries, such as railroad, marine, drilling, wind and mining. This business provides freight and passenger locomotives, railway signaling and communications systems, information technology solutions, marine engines, motorized drive systems for mining trucks and drills, high-quality replacement parts and value added services.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include CLARCOR Inc (CLC), Compass Diversified Holdings (CODI) and Noble Group Ltd (NOBGY) each carrying a Zacks Rank #2 (Buy).
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