GE Transportation Inks First Locomotive Deal in Chile
July 19 2018 - 10:27AM
Dow Jones News
By Colin Kellaher
General Electric Co. (GE) on Thursday said its GE Transportation
unit received an order for five diesel-electric locomotives for
Chilean private transport provider Ferrocarril de Antofagasta, or
FCAB.
The value of the order wasn't disclosed. FCAB is the transport
division of Antofagasta PLC (ANTO.LN).
GE Transportation said its first locomotive deal in Chile
includes a parts, service and warranty agreement.
The locomotives, to be delivered next year, will be assembled at
GE's facility in Contagem, Brazil, and will be used to transport
products for Chile's vital mining industry, GE said. GE
Transportation said its sales in South America are up 40% over the
last three years.
GE in May agreed to merge its railroad business with Wabtec
Corp. (WAB) in a deal valued at roughly $11 billion after examining
options for its transportation division, which has struggled with
falling profit and sales in recent years.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 19, 2018 10:12 ET (14:12 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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