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January 17, 2013
17:48 EDTARIIACF to pay American Railcar a royalty in tank car pact
In consideration of the services and license provided by ARI to ACF in conjunction with the Agreement, ACF shall pay ARI a royalty and, if any, a share of the net profits earned on each railcar manufactured and sold by ACF under the Agreement, in an aggregate amount equal to 30 percent of such Profits, as calculated under the Agreement. Under the agreement, Profits are net of certain of ACF’s start-up and shutdown expenses and maintenance costs. If no Profits are realized on a railcar manufactured and sold by ACF pursuant to the Agreement, ARI will still be entitled to the royalty for such railcar, and ARI will not share in any losses incurred by ACF in connection therewith.
News For ARII From The Last 14 Days
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October 1, 2014
13:24 EDTARIIRailcar makers fall after lobbyists seek delay of oil tank car rules
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07:38 EDTARIIRailcar, oil groups push back over crude-train deadlines, WSJ says
The Association of American Railroads, which represents oil and freight haulers, and the American Petroleum Institute, the lobbying group for oil companies, told the U.S. Transportation Department that they need more than two years to build safer railcars to haul crude, pushing back against some proposed federal rules, reported The Wall Street Journal. Rail car makers include Trinity Industries (TRN), FreightCar America (RAIL), American Railcar Industries (ARII) and Greenbrier (GBX). Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
September 24, 2014
17:25 EDTARIIAmerican Railcar names Jeffrey Hollister as CEO, Umesh Choksi as CFO
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