DOCSLIB.ORG

Transportation & Logistics

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Transportation & Logistics TRANSPORTATION & LOGISTICS INDUSTRY UPDATE │ APRIL 2015 www.harriswilliams.de Harris Williams & Co. Ltd is a private limited company incorporated under English law having its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales under company number 7078852. Directors: Mr. Christopher Williams, Mr. Ned Valentine, Mr. Paul Poggi and Mr. Thierry Monjauze, authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. Ltd Niederlassung Frankfurt (German branch) is registered in the Commercial Register (Handelsregister) of the Local Court (Amtsgericht) of Frankfurt am Main, Germany, under registration number HRB 96687, having its business address at Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany. Permanent Representative (Ständiger Vertreter) of the Branch Niederlassung: Mr. Jeffery H. Perkins. 0 TRANSPORTATION & LOGISTICS INDUSTRY UPDATE │ APRIL 2015 CONTENTS HARRIS WILLIAMS & CO. DEAL SPOTLIGHT . M&A TRANSACTIONS . PUBLIC MARKETS OVERVIEW Marquette Transportation Company . STOCK PRICE PERFORMANCE Harris Williams & Co. advised Marquette Transportation . OUR GROUP a portfolio company of Company (“Marquette”), a portfolio company of KRG Capital Partners, on its sale to BDT Capital Partners. Marquette is a leading provider of towing services on the has been acquired by inland waterways of the United States. CONTACTS Press Release UNITED STATES Frank Mountcastle Managing Director WHAT WE’RE READING [email protected] +1 (804) 915-0124 LOGISTICS | INTERNET OF THINGS POISED TO TRANSFORM LOGISTICS Jason Bass Managing Director A new trend report compiled by Cisco Consulting Services and DHL claims that the [email protected] Internet of Things (IoT) will completely transform global supply chain structures and +1 (804) 915-0132 logistics practices. The IoT presents a unique technology transition that is impacting Joe Conner all our lives and will have huge implications for the business of logistics as we move Managing Director from 15 billion connected devices today to some 50 billion by 2020. [email protected] Fleet Owner +1 (804) 915-0151 Jeff Burkett TRUCKING | REVENUE INCREASINGLY FLOWS TO BIGGEST CARRIERS Director [email protected] In the U.S., trucking is considered a "fragmented" industry, with hundreds of +1 (804) 932-1334 thousands of carriers, many of them fielding only a few trucks, hauling freight Jershon Jones across the continent. However, trucking revenue has become increasingly Director concentrated, as the number of carriers with more than $1bn in annual revenue [email protected] more than doubled over the last decade. +1 (804) 932-1356 Journal of Commerce Jeff Kidd Vice President RAIL | 2014 SAFEST YEAR ON RECORD [email protected] +1 (804) 915-0178 The most recent safety statistics released by the Federal Railroad Administration (FRA) in April show that 2014 was the safest year on record for train operations in EUROPE the United States, in terms of both the number of accidents and the accident rate per million train-miles, for a variety of causes. Jeffery Perkins Railway Age Managing Director [email protected] +49 (0) 69 3650638 00 MARINE | SAVINGS AVAILABLE THROUGH ALLIANCE COOPERATION The scale advantage container shipping alliances are realizing at sea comes to an end when vessels arrive in port, and extending that cooperation to land is the critical next step towards improving efficiency and profitability, a new McKinsey report has found. Reducing the overall cost base and complexity of land-based work by combining the operations of alliance members would give a midsize alliance member $100 million in U.S. landside savings a year, the report found. Journal of Commerce AIR | LUNAR NEW YEAR AND U.S. PORT CONGESTION BOOST AIR FREIGHT The International Air Transport Association (IATA) released February data for global air freight markets showing a sharp increase in year-on-year air freight volumes. Growth measured by freight tonne kilometers (FTK) was up 11.7% in February, compared to February 2014. Capacity grew 7.4%. IATA www.harriswilliams.de PAGE | 1 TRANSPORTATION & LOGISTICS INDUSTRY UPDATE │ APRIL 2015 M&A TRANSACTIONS RECENT M&A TRANSACTIONS1,2 Date Sector Target Business Description Acquirer Pending Logistics Command Provides truckload brokerage and non-asset based transportation Echo Global Logistics, Inc. Transportation, LLC services. Pending Marine Baltic Trading Limited Transports iron ore, coal, grain, steel products, and other drybulk Genco Shipping & Trading cargo along global shipping routes. Ltd. Pending Logistics TNT Express N.V. Provides express delivery services in Europe, the Middle East and FedEx Corporation Africa, Asia-Pacific, and the Americas. Pending Logistics Transfreight North Provides third-party logistics and supply chain solutions. Penske Logistics, Inc. America Pending Logistics Air Medical Group Provides air ambulance services. KKR & Co. Holdings, Inc. Pending Logistics Toll Holdings Limited Provides integrated logistics services in the Asia-Pacific region and Japan Post Bank Co., Ltd. internationally. Pending Logistics APL Logistics Ltd Provides global supply chain and logistics services across all modes Kintetsu World Express, of transportation. Inc. Pending Marine Horizon Lines, Inc. Engages in Jones Act container shipping with primary service to ports Matson Navigation within the continental United States, Alaska, Hawaii, and Puerto Rico. Company, Inc. 4/2/2015 Logistics Wheels Group Inc. Provides third party logistics and supply chain solutions in North Radiant Global Logistics America. 4/2/2015 Trucking Jardine Transport Ltd. Provides long-haul trucking solutions including flatbed and drop- SeaFort Capital deck services. 3/31/2015 Marine Marquette Provides towing services on inland waterways of the United States. BDT Capital Partners, LLC Transportation Company 3/25/2015 Rail Freightliner Group Ltd Provides international freight rail services with operations in the Genesee & Wyoming Inc. United Kingdom, Poland, Germany, the Netherlands, and Australia. 3/23/2015 Logistics McNutt Automotive Provides asset-light automotive logistics services. MetroGistics, LLC Logistics, LLC 3/23/2015 Logistics Modern Forwarding and Provides truckload and less-than-truckload transport services with Dicom Transportation Leasing Company Inc. emphasis on U.S.-Canada cross-border business. Group, L.P. 3/9/2015 Trucking CLP Towne Inc. Doing business as Towne Air Freight. Provides full-service trucking Forward Air, Inc. solutions and specializes in time-definite airport-to-airport trucking. 3/3/2015 Logistics Neovia Logistics Provides third party contract logistics services, including warehouse The Goldman Sachs Group Services, LLC management, fulfillment, and distribution solutions. Rhone Capital L.L.C. 2/9/2015 Logistics UX Specialized Logistics Provides non-asset based, last mile logistics services including home XPO Last Mile, Inc. delivery, assembly and installation, and same-day delivery. 2/4/2015 Rail Railroad Controls Limited Provides railroad signal construction services to the freight and Westinghouse Air Brake commuter rail industry. Technologies Corporation PAGE | 2 TRANSPORTATION & LOGISTICS INDUSTRY UPDATE │ APRIL 2015 PUBLIC MARKETS OVERVIEW TEV / LTM EBITDA TEV / 2015E EBITDA Logistics Providers 11.3x Logistics Providers 10.4x Rail & Rail Services 10.6x Rail & Rail Services 9.1x Marine 9.4x Marine 8.4x Trucking 8.2x Trucking 6.6x Transportation Transportation 7.1x 6.0x Equipment Equipment AVERAGE REVENUE GROWTH (2011 – 2014) AVERAGE REVENUE GROWTH (2014 – 2016P) Rail & Rail Services 11.5% Trucking 9.5% Transportation 8.7% Rail & Rail Services 8.7% Equipment Trucking 7.7% Logistics Providers 7.0% Transportation Logistics Providers 6.4% 5.2% Equipment Marine 3.5% Marine 2.0% AVERAGE EBITDA GROWTH (2011 – 2014) AVERAGE EBITDA GROWTH (2014 – 2016P) Rail & Rail Services 17.5% Trucking 15.7% Trucking 13.0% Logistics Providers 13.3% Marine 8.1% Marine 12.3% Transportation 7.4% Rail & Rail Services 11.5% Equipment Transportation Logistics Providers 6.8% 11.2% Equipment PAGE | 3 TRANSPORTATION & LOGISTICS INDUSTRY UPDATE │ APRIL 2015 STOCK PRICE PERFORMANCE MEDIAN % CHANGE (1 MONTH) MEDIAN % CHANGE (12 MONTH) Marine 9.7% Rail & Rail Services 15.7% Rail & Rail Services (2.0%) Logistics Providers 9.1% Transportation (4.3%) Trucking 6.9% Equipment Transportation Logistics Providers (4.5%) (5.9%) Equipment Trucking (7.2%) Marine (9.5%) TRAILING TWELVE MONTHS (Indexed to April 21, 2014) 40% 30% 20% 10% 0% (10%) (20%) (30%) 4/21/14 7/21/14 10/21/14 1/21/15 4/21/15 Logistics Providers Trucking Rail & Rail Services Marine Transportation Equipment S&P 500 Index PAGE | 4 TRANSPORTATION & LOGISTICS INDUSTRY UPDATE │ APRIL 2015 OUR GROUP Harris Williams & Co. is a leading advisor to the transportation and logistics M&A market. Our Transportation & Logistics Group has experience across a broad range of sectors, including third-party logistics, rail and rail services, marine transportation, transportation equipment, niche transportation, automotive and heavy duty vehicle, and airport and aviation services. RECENTLY CLOSED T&L TRANSACTIONS RCL Services Group in partnership with a portfolio company of and a portfolio company of a portfolio company of a portfolio company of a portfolio company of has sold and has been acquired by to has been acquired by has been acquired by has been acquired by has been acquired by a portfolio
Load more

Recommended publications
  • Genesee & Wyoming Inc. 2016 Annual Report
    Genesee & Wyoming Inc. 2016 Annual Report Genesee & Wyoming Inc.*owns or leases 122 freight railroads worldwide that are organized into 10 operating regions with approximately 7,300 employees and 3,000 customers. * The terms “Genesee & Wyoming,” “G&W,” “the company,” “we,” “our,” and “us” refer collectively to Genesee & Wyoming Inc. and its subsidiaries and affiliated companies. Financial Highlights Years Ended December 31 (In thousands, except per share amounts) 2012 2013 2014 2015 2016 Statement of Operations Data Operating revenues $874,916 $1,568,643 $1,639,012 $2,000,401 $2,001,527 Operating income 190,322 380,188 421,571 384,261 289,612 Net income 52,433 271,296 261,006 225,037 141,096 Net income attributable to Genesee & Wyoming Inc. 48,058 269,157 260,755 225,037 141,137 Diluted earnings per common share attributable to Genesee & Wyoming Inc. common stockholders: Diluted earnings per common share (EPS) $1.02 $4.79 $4.58 $3.89 $2.42 Weighted average shares - Diluted 51,316 56,679 56,972 57,848 58,256 Balance Sheet Data as of Period End Total assets $5,226,115 $5,319,821 $5,595,753 $6,703,082 $7,634,958 Total debt 1,858,135 1,624,712 1,615,449 2,281,751 2,359,453 Total equity 1,500,462 2,149,070 2,357,980 2,519,461 3,187,121 Operating Revenues Operating Income Net Income Diluted Earnings ($ In Millions) ($ In Millions) ($ In Millions) 421.61,2 Per Common Share 2 2,001.5 401.6 1 $2,000 2,000.4 $400 394.12 $275 271.3 $5.00 1 2 4.79 1 374.3 1 380.21 384.3 261.0 4.581 1,800 250 4.50 350 1,639.0 225.01 225 2 1 1,600 233.5 4.00 2 3.89 1,568.6 4.10 2 300 2 200 213.9 213.3 2 3.78 2 1,400 1 3.50 3.69 289.6 183.32 3.142 250 175 1,200 3.00 211.
    [Show full text]
  • Affiliate Rewards Eligible Companies
    Affiliate Rewards Eligible Companies Program ID's: 2012MY 2013MY 2014MY Designated Corporate Customer 28HCR 28HDR 28HER Fleet Company 28HCH 28HDH 28HEH Supplier Company 28HCJ 28HDJ 28HEJ Company Name Type 3 Point Machine SUPPLIER 3-D POLYMERS SUPPLIER 3-Dimensional Services SUPPLIER 3M Employee Transportation & Travel FLEET 84 Lumber Company DCC A & R Security Services, Inc. FLEET A B & W INC SUPPLIER A D E SUPPLIER A G Manufacturing SUPPLIER A G Simpson Automotive Inc SUPPLIER A I M CORPORATION SUPPLIER A M G INDUSTRIES INC SUPPLIER A T KEARNEYINC SUPPLIER A&D Technology Inc SUPPLIER A&E Television Networks DCC A. Raymond Tinnerman Automotive Inc SUPPLIER A. Schulman Inc SUPPLIER A.J. Rose Manufacturing SUPPLIER A.M Community Credit Union DCC A-1 SPECIALIZED SERVICES SUPPLIER AAA East Central DCC AAA National SUPPLIER AAA Ohio Auto Club DCC AARELL COMPANY SUPPLIER ABA OF AMERICA INC SUPPLIER ABB, Inc. FLEET Abbott Ball Co SUPPLIER ABBOTT BALL COMPANY THE SUPPLIER Abbott Labs FLEET Abbott, Nicholson, Quilter, Esshaki & Youngblood P DCC Abby Farm Supply, Inc DCC ABC GROUP-CANADA SUPPLIER ABC Widgit Company SUPPLIER Abednego Environmental Services SUPPLIER Abercrombie & Fitch FLEET Affiliate Rewards Eligible Companies Program ID's: 2012MY 2013MY 2014MY Designated Corporate Customer 28HCR 28HDR 28HER Fleet Company 28HCH 28HDH 28HEH Supplier Company 28HCJ 28HDJ 28HEJ ABERNATHY INDUSTRIAL SUPPLIER ABF Freight System Inc SUPPLIER ABM Industries, Inc. FLEET AboveNet FLEET ABP Induction SUPPLIER ABRASIVE DIAMOND TOOL COMPANY SUPPLIER Abraxis Bioscience Inc. FLEET ABSO-CLEAN INDUSTRIES INC SUPPLIER ACCENTURE SUPPLIER Access Fund SUPPLIER Acciona Energy North America Corporation FLEET Accor North America FLEET Accretive Solutions SUPPLIER Accu-Die & Mold Inc SUPPLIER Accumetric, LLC SUPPLIER ACCUM-MATIC SYSTEMS INC SUPPLIER ACCURATE MACHINE AND TOOL CORP SUPPLIER ACCURATE ROLL ENGINEERING CORP SUPPLIER Accurate Technologies Inc SUPPLIER Accuride Corporation SUPPLIER Ace Hardware Corporation FLEET ACE PRODUCTS INC SUPPLIER ACG Direct Inc.
    [Show full text]
  • Download Presentation
    Genesee & Wyoming Australia Challenges and Opportunities in the SA rail sector Genesee & Wyoming Inc. February, 20161 Forward-Looking Statements This presentation contains “forward-looking statements” regarding future events and the future performance of Genesee & Wyoming Inc. that involve risks and uncertainties that could cause actual results to differ materially from those expressed or forecasted, including, but not limited to, economic conditions, customer demand, increased competition in the relevant market, the integration of RailAmerica railroads, and others, many of which are beyond our control. The Company refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as the Company’s Forms 10-Q and 10-K, which contain additional important factors that could cause its actual results to differ from its current expectations and from the forward-looking statements discussed during this presentation. Forward-looking statements speak only as of the date of this presentation or the date they were made. Genesee & Wyoming Inc. does not undertake, and expressly disclaims, any duty to update any forward- looking statement contained in this presentation whether as a result of new information, future events or otherwise, except as required by law. Genesee & Wyoming Australia 2 GWA Priorities 1. Safety: Our No. 1 priority 2. Customer Service: We exist to serve our customers 3. Local Accountability: Make decisions closest to the facts 4. Commitment to Excellence: Continuous improvement 5. Long-Term Partnerships: Customers, Large US Railroads, Local Communities 6. Long-Term Decision Making: Stewards of vital infrastructure assets Genesee & Wyoming Australia 3 Our Core Purpose To be the safest and most respected rail service provider in the world.
    [Show full text]
  • KEN MILLER Oklahoma State Treasurer It’S Your Money
    A Message From KEN MILLER Oklahoma State Treasurer It’s your money. Please come get it! Please take a few minutes to see if your name is included on this list of all new names to see if you have treasure waiting to be claimed. Oklahoma businesses bring unclaimed cash, rebates, paychecks, royalties, stock and bonds to my office and it’s my job to return the money to the owners and heirs. Our service is always free and there is no time limit on claiming your property! These are just the most recent names we have received. Our online database contains thousands of names dating back to Search and file a claim online for your 1967. If your name is not on this list, check our website at: unclaimed property. Go to: www.treasurer.ok.gov www.treasurer.ok.gov If you find your name, start your claim online or use the form on the back. to get started. For all other questions Thank you, about unclaimed property, call us at 405-521-4273 Ken Miller, Oklahoma State Treasurer NOTICE OF NAMES OF PERSONS APPEARING TO BE OWNERS OF ABANDONED PROPERTY JULY 2011 – Newspaper Advertising Supplement 2 ADAIR COUNTY — BUNCH JULY 2011 • UNCLAIMED PROPERTY BEAVER COUNTY — BEAVER SOAP HAZEL MITCHELL NEILA NOELS OIL ADAIR RT BOX 165 COUNRTY VILL MOBILE PO BOX 387 SWIMMER CHERRIE L HOME PRK B OWEN GEORGIA BUNCH PO BOX 1097 MURRAY ASHLEY 704 W 13TH ST TABLE OF CONTENTS RODNEY KIMBLE TEEHEE CHARLOTTEA RT 1 BOX 556 PLEASANT PARALEE D PO BOX 2 RR 4 BOX 320 PRIETO KAMISHA RR 2 BOX 1170 ADAIR COUNTY PAGE 2 LOVE COUNTY PAGE 28 PROCTOR THIRSTY ASHLEY ANN 209 W CHINCAPIN PREFERRED PHCY RT1 BOX 1529 SAWNEY EDWARD L PROVIDERS OF SE OK ALFALFA COUNTY PAGE 2 MAJOR COUNTY PAGE 28 BAILEY WAYNE MR P.O.
    [Show full text]
  • Financing Good Times
    60DegreeTiffin_RIS.qxp 5/4/07 2:11 PM Page 1 =afYf[af_Ü_gg\Ülae]kÜ *GZPVS3FDSFBUJPOBM7FIJDMF 37 IBTBDIBTTJTNBOVGBDUVSFECZ'SFJHIUMJOFS$VTUPN$IBTTJT$PSQ ZPVDBOOPXUBLF TURNING IT UP, AGAIN. BEWBOUBHFPG¾OBODJOHGSPN%BJNMFS$ISZTMFS %$ 5SVDL'JOBODJBMBOE&TTFY$SFEJU5IJTOFXQSPHSBNPGGFSTZPVNBOZ BEWBOUBHFTPWFSUSBEJUJPOBMMFOEFSTJODMVEJOHUIFTUSFOHUIPG%BJNMFS$ISZTMFS DPNQFUJUJWFSBUFTBOEPVSFYQFSJFODFBT Introducing another industry first by Freightliner Custom Chassis. POFPGUIFNPTUSFTQFDUFEDBQUJWF¾OBODFDPNQBOJFTJOUIFXPSME We’ve done it. Freightliner Custom Chassis’ new independent front 8JUIBO37CVJMUPOB'SFJHIUMJOFSDIBTTJT ZPVIBWFBDDFTTUPBXFCTJUFUIBUNBLFTJUTJNQMFUPBQQMZBOEHFUUIF suspension by ZF®, with an industry-leading 60-degree wheel cut, ¾OBODJOHZPVOFFE"UXXXFTTFYDSFEJUDPNGDDD ZPVµMMCFBCMFUPBQQMZGPSBSF¾OBODFPGZPVSFYJTUJOH37MPBO HFU enables you to maneuver like you’ve never thought possible. ¾OBODJOHGPSBOFX37PSFWFOHFUBMPBOGPSBVTFE37 Why? It’s about negotiating those tighter spaces and tighter turns; (PUPXXXFTTFYDSFEJUDPNGDDDBOEVTFUIF¾OBODJOHMJOLUPBDDFTTSBUFRVPUBUJPOTBOEZPVSPOMJOFDSFEJUBQQMJDBUJPO about having more controlled confidence at the wheel; about +PJOUIFNJMMJPOTPGDVTUPNFSTXPSMEXJEFXIPSFMZPO%BJNMFS$ISZTMFSGPSDVTUPNUBJMPSFE¾OBODFTPMVUJPOT expanding the limits of where you go and how you get there. 'JOBODFZPVSHPPEUJNFT So don’t be afraid of the road ahead…take on the world one turn at a time with Freightliner Custom Chassis, The Leader at Every Turn. 1.800.545.8831 | freightlinerchassis.com ESSEX CREDIT Call Freightliner Custom Chassis Corporation
    [Show full text]
  • Draft Service Level NEPA Document- V2
    TIER 1 ENVIRONMENTAL ASSESSMENT FOR OKLAHOMA DEPARTMENT OF TRANSPORTATION NORTHERN SECTION OF THE SOUTH CENTRAL HIGH SPEED INTERCITY PASSENGER RAIL SEPTEMBER 2009 TIER ONE ENVIRONMENTAL ASSESSMENT FOR NORTH SECTION OF THE SOUTH CENTRAL HIGH SPEED RAIL CORRIDOR IN OKLAHOMA Located In Oklahoma, Lincoln, Creek and Tulsa Counties, Oklahoma The focus of this document is to provide a Tier 1 Environmental Assessment pursuant to the National Environmental Policy Act (NEPA). This documentation will focus on broad issues such as purpose and need, general location of alternatives, and avoidance and minimization of potential environmental effects for the North (Oklahoma City/Tulsa) Section for Oklahoma's portion of the South Central High Speed Rail Corridor. Prepared For: Oklahoma Department of Transportation & Federal Railroad Administration Prepared By: Able Consulting 9225 North 133rd East Avenue Owasso, Oklahoma 74055 September 2009 ENVIRONMENTAL CORRIDOR ANALYSIS 2009 TABLE OF CONTENTS PREFACE ...................................................................................................................................................... 1 EXECUTIVE SUMMARY ........................................................................................................................... 3 1.0 INTRODUCTION AND LOCATION ...................................................................................................... 5 2.0 PURPOSE AND NEED FOR THE PROJECT ...................................................................................... 8
    [Show full text]
  • The World's Leading and Only Monthly Magazine for the Dry Bulk Industry
    i DRY CARGO DC international ISSUE NO.164 NOVEMBER 2013 FEATURES Fertilizer Trades Cement Handling Handymax Bulkers France & Belgium FIBCs & Bagging Equipment The world’s leading and only monthly magazine for the dry bulk industry VERSTEGEN GRAB MORE MORE GRAB 6ERSTEGEN'RIJPERS"6s0/"OXs"!.IEUWEGEINs4HE.ETHERLANDS TEL sFAX EMAILINFO VERSTEGENNETsWEBSITEWWWVERSTEGENNET CONTENTS VIGAN 600tph pneumatic ship-unloader for transshipment from DCi ocean vessels to river barges in the port of Alexandria, Egypt. VIGAN also delivered to the same NSSC company two pneumatic barge unloaders, each one with a capacity of 250tph and mounted on gantries travelling on rails. VIGAN Engineering S.A. Rue de l’Industrie, 16 BE – 1400 Nivelles Belgium T : + 32 67 89 50 41 F : + 32 67 89 50 60 E : [email protected] W : www.vigan.com PUBLISHERS Jason Chinnock [email protected] NOVEMBER 2013 issue Andrew Hucker-Brown [email protected] EDITORIAL featuring... Louise Dodds-Ely Editor [email protected] Jay Venter Deputy Editor [email protected] TRADE & COMMODITIES Samantha Smith Directories [email protected] Vital support from coal trade 2 Stephanie Hodgkins Office Manager The long and winding road to US coal exports 4 [email protected] Reshuffling the grain trade exporters pack 6 SALES GLOBAL FERTILIZER OUTLOOK 9 Lourens van Emmenis Sales Director [email protected] Matthew Currin Senior Sales Executive [email protected] SHIPPING & TRANSPORT CORRESPONDENTS Twenty MacGregor cranes ordered for multi-purpose vessels 20 Brazil Patrick Knight HANDYMAX BULKERS:
    [Show full text]
  • Annual Report and Audited Financial Statements 2013 RAIL JOURNEYS 2013 of the WORLD
    RAIL JOURNEYS 2013 OF THE WORLD Annual Report and Audited Financial Statements 2013 RAIL JOURNEYS 2013 OF THE WORLD The theme for this year’s annual report and accounts is rail journeys of the world. Find out more about each journey at the back of this booklet. Contents Trustee Company’s responsibilities in respect of Statement of contributions Trustee Company The Railways and summary responsibilities Pension of contributions in relation to The Trustee’s Scheme Audited payable in the year audited financial Investment Financial statements Report Appendices Statements 04 07 10 11 20 21 22 23 24 35 38 39 Actuary’s Key Statistics Report Chairman’s Independent The Trustee introduction Auditor’s Company report Independent Annual Report Auditor’s Statement about contributions to the Trustee of the RPS On behalf of your Trustee Board I introduce the Annual Report and Audited Financial Statements of the Railways Pension Scheme (‘the Scheme’) for the year ended 31 December 2013. Investment returns in 2013 were reasonably strong. The Growth (Pooled) Fund, in which well over half the Scheme’s assets are now invested, performed well both in absolute terms (8.6%) and against benchmark (3.5%), propelled by another “double digit” year for the equities in which more than 40% of that fund is invested. The Growth Fund will not, however, match the performance of equities; rather, it is designed to balance out the risks and volatile returns associated with single-asset strategies by investing in a wide range of assets, targeting a long-term return of 5% per annum above UK RPI inflation.
    [Show full text]
  • 140903 CERRE Railfreight Discussion Paper 41/52
    Development of rail freight in Europe: What regulation can and cannot do CERRE Discussion Paper Professor Yves Crozet (University of Lyon) With contributions from: Professor Justus Haucap & Dr Beatrice Pagel (University of Düsseldorf) Professor Antonio Musso (University La Sapienza, Rome) Professor Eddy Vandevoorde & Professor Thierry Vanelslander (University of Antwerp) Dr Allan Woodburn (University of Westminster) 03 September 2014 140903_CERRE RailFreight_DiscussionPaper Centre on Regulation in Europe (CERRE)asbl Rue de l’Industrie 42 Box 16 - B-1040 Brussels - Belgium Ph: +32 (0)2 230 83 60 - Fax: +32 (0)2 23 0 83 70 –[email protected] – www.cerre.eu Table of Content About CERRE .................................................................................................................................... 3 About the authors ............................................................................................................................ 4 Discussion Paper .............................................................................................................................. 6 1. Introduction ......................................................................................................................... 6 2. Rail freight in Europe: questioning the EU’s goals ................................................................. 7 2.1 Rail freight in Europe: ambitions thwarted ................................................................... 7 2.2 Determining the relevant perimeter for rail freight in the context
    [Show full text]
  • Eligible Company List - Updated 2/1/2018
    Eligible Company List - Updated 2/1/2018 S10009 3 Dimensional Services Rochester Hills, MI Supplier Employees Only S65830 3BL Media LLC North Hampton, MA Supplier Employees Only S69510 3D Systems Rock Hill, SC Supplier Employees Only S65364 3IS Inc Novi, MI Supplier Employees Only S70521 3R Manufacturing Company Goodell, MI Supplier Employees Only S61313 7th Sense LP Bingham Farms, MI Supplier Employees Only D18911 84 Lumber Company Eighty Four, PA DCC Employees Only S42897 A & S Industrial Coating Co Inc Warren, MI Supplier Employees Only S73205 A and D Technology Inc Ann Arbor, MI Supplier Employees Only S57425 A G Manufacturing Harbour Beach, MI Supplier Employees Only S01250 A G Simpson (USA) Inc Sterling Heights, MI Supplier Employees Only F02130 A G Wassenaar Denver, CO Fleet Employees Only S80904 A J Rose Manufacturing Avon, OH Supplier Employees Only S19787 A OK Precision Prototype Inc Warren, MI Supplier Employees Only S62637 A Raymond Tinnerman Automotive Inc Rochester Hills, MI Supplier Employees Only S82162 A Schulman Inc Fairlawn, OH Supplier Employees Only S78336 A T Kearney Inc Chicago, IL Supplier Employees Only D80005 A&E Television Networks New York, NY DCC Employees Only S64720 A.P. Plasman Inc. Fort Payne, AL Supplier Employees Only S36205 AAA National Office (Only EMPLOYEES Eligible) Heathrow, FL Supplier Employees Only S31320 AAF McQuay Inc Louisville, KY Supplier Employees Only S14541 Aarell Process Controls Group Troy, MI Supplier Employees Only F05894 ABB Inc Cary, NC Fleet Employees Only S10035 Abbott Ball Co
    [Show full text]
  • Choosing and Developing a Multi-Modal Transport Solution Guide Acknowledgements
    Choosing and Developing a Multi-modal Transport Solution Guide Acknowledgements The Freight Best Practice programme would like to thank the following two organisations for their significant contributions to the case studies in this guide: Rail Freight Group Freight by Water (formerly Sea and Water), now part of FTA The Freight Best Practice programme would also like to thank the following people and organisations for their contributions to the case studies and photographs in this guide: • Alan Woodburn • British Waterways • Frank Worsford • Freight on Rail • Freight Transport Association • Gavin Roser • Mike Browne • Neil Stevens • Network Rail Plc • Port of London • Steve Mulvey The Freight Best Practice programme would like to thank the large number of companies and organisations featured in the case studies. A full list of these can be found in the Contents Page. Front Cover Photograph A Fastline locomotive at the head of a container train at Birmingham Intermodal Freight Terminal, one of the newer freight terminals and featured in Case Study 31. Due to problems with its Parent Group Fastline ceased trading in March 2010. Disclaimer: While the Department for Transport (DfT) has made every effort to ensure the information in this document is accurate, DfT does not guarantee the accuracy, completeness or usefulness of that information; and it cannot accept liability for any loss or damages of any kind resulting from reliance on the information or guidance this document contains. Foreword Freight Best Practice is funded by the Department for Transport and managed by AECOM Ltd to promote operational efficiency within freight operations in England. Freight Best Practice offers FREE essential information for the freight industry, covering topics such as saving fuel, developing skills, equipment and systems, operational efficiency and performance management.
    [Show full text]
  • Appendix 3 Freightliner CSR , Item 22. PDF 547 KB
    APPENDIX 3 Corporate Chief Executive statement and summary 02 Who we are and where we operate 03 Environment 06 Social Employee wellbeing and investment 14 Responsibility Community and charities 16 Policy FREIGHTLINER’S cORPORATE SOCIAL RESPONSIBILITY 1 APPENDIX 3 Chief Executive Statement And Summary Summary Freightliner Group has an Environmental Policy which is briefed to all staff when they join the company and each employee receives an employee handbook at their induction which explains the key company policies. It is also available on the Internet for the general public. The “ Freightliner is the market leader statement sets out the Freightliner policy and officially the most reliable rail for its commitment to environmental freight operator in the UK. Since protection. 2005 we have expanded operations Freightliner’s core business of moving to Poland and Australia . freight by rail is more environmentally Our success is based on setting new friendly than moving freight by road, standards of customer service in thus we enable our customers to reach terms of reliability, flexibility and their CSR targets and in turn make innovation. them more friendly to the environment. Calculations show that in any average Our continued growth and month Freightliner in the UK replaces expanded activity in all areas of the over 50,000 lorry journeys and saves business only puts more importance thousands of tonnes of CO2, thus on the impact of our operations in contributing on behalf of our customers the environment and on our local to reducing the
    [Show full text]