This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Siemens Rail Automation To Upgrade Train Control Systems On Two Largest Commuter Lines In U.S.

Siemens Rail Automation, in a consortium with Bombardier Transportation, has been awarded a contract, not to exceed $428 million including all phases and options, by the Metropolitan Transportation Authority (MTA) to upgrade train control systems on the two largest commuter lines in the U.S. Siemens and Bombardier will develop, test and commission a new Positive Train Control (PTC) system, a technology solution that helps monitors and control train movement, for the MTA Metro-North Railroad and MTA Long Island Rail Road (LIRR) commuter lines. These improvements will increase efficiency on lines that carry around 80 million passengers per year.

The project will be delivered in phases on approximately 1100 km (700 miles) of track and 1500 vehicles across the two railroads. Siemens work scope for this project includes development, modification, design, delivery, provisioning, and supervision of testing and commissioning of the new Positive Train Control (PTC) carborne system. The scope also includes modifications and revision to existing railroads’ wayside signal in order to upgrade and add ACSES II-related hardware for the two complete PTC systems, one configured for Metro-North Railroad and one configured for Long Island Rail Road.

“Siemens is a leading provider of rail automation technologies worldwide, and we are excited to bring this global expertise to advance rail efficiency on these highly traveled commuter lines,” said John Paljug, President of Siemens Rail Automation. “We look forward to continuing Siemens strong relationship with the MTA and delivering technology that will make rail travel increasingly efficient for the over 80 million passengers that travel these lines each year.”

Siemens has developed PTC, a signal enforcement system that will lead to more efficient train control, specifically for the North American market and in accordance with U.S. Congress’ Rail Safety Improvement Act of 2008. The act mandates widespread installation of PTC systems by December 2015 on rail lines which carry at least five million gross tons of freight annually, on Class I railroads that ship Poison Inhalation Hazard (PIH) commodities, and on lines where intercity passenger rail and commuter service is regularly operated. The train control system works to prevent train accidents caused by errors such as overspeed conditions or overrunning red signals.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs