Export deals help to fill order books

first_imgITALIAN builder Fiat Ferroviaria has added a two-car diesel trainset to its family of tilting Pendolino trains. Built speculatively at Fiat’s own cost, the train began trials in November 3, initially on the line between Savigliano, site of the Fiat factory, and Cuneo.Two years ago Italian State Railways planned to order a fleet of 52 diesel Pendolini from Fiat, but a decision to put the contract out to open tender has delayed progress. Fiat is meanwhile hoping that an initial tranche of 16 sets will be ordered shortly as FS has allocated the necessary funding.Routes on which FS envisages deploying diesel Pendolini include Firenze – Siena and Taranto – Reggio di Calabria. Another destination could be Sardinia where FS is conscious that there is a need to improve services following abandonment of 25 kV 50Hz electrification in 1993.Both cars of the diesel Pendolino have two horizontally-mounted automotive diesel engines supplied by Iveco, each delivering a UIC rating of 294 kW to a three-phase alternator. Electrical equipment is supplied by Parizzi, and for the first time, the design makes use of small, axle-mounted synchronous motors with permanent magnets and integrated final drives; all axles are powered. FS has yet to endorse this arrangement. Other equipment is based on the tried and tested designs used on other members of the Pendolino family.In the meantime Fiat has delivered the first three ETR480 trainsets to FS. These are designed to accept 25 kV 50Hz that will equip the Roma – Napoli and subsequent high speed lines, but the 25 kV equipment will not be installed in the trains until later.Contracts awaitedFiat’s biggest prize would be to scoop the order from Virgin Trains for more than 55 tilting trains for Britain’s West Coast main line. When tenders closed on November 24, Fiat and its partner GEC Alsthom faced a rival bid from Adtranz. Fiat’s Antonio Amoruso said in mid-November that this would be ’the most important tilting train contract of all time’. The situation is extraordinarily reminiscent of the mid-1970s when a fleet of APT tilting trains was envisaged for exactly the same route and services.Fiat has already signed heads of agreement for two 11-car sets for Great North Eastern Railway services between London King’s Cross and Edinburgh, with an option for six more. In practice, signing of the contract will have to await the outcome of the Virgin contract, as GNER stands to benefit from a cheaper price if the order can be tacked on to the West Coast build.Negotiations are also under way to convert the option for 23 Type S220 sets in a contract with Finnish State Railways to a firm order. In the meantime Fiat has received a letter of intent for three three-car units for 3 kV DC operation from Slovenian Railways to work services from Ljubljana to Maribor and Trieste. There is also an option for more sets with this contract. Still awaited is confirmation of an order for seven trains for Malaysian Railways, with an option for 15 more.Current production at Breda’s Pistoia plant includes TAF double-deck EMUs for FS and the Nord Milano Railway, metro cars for Roma Line A and, as part of the Trevi consortium, 3 kV DC 25 kV AC ETR500 power cars for FS. Pistoia is also building LRVs for Boston and San Francisco and metro cars for Los Angeles; to comply with Buy America legislation, Breda has facilities for final assembly in Harrison, New Jersey, and San Francisco.Apart from the Los Angeles metro cars, based on stainless steel bodyshells supplied by Adtranz Portugal (formerly Sorefame), most vehicles currently under construction at Pistoia feature aluminium construction. The TAF cars are assembled from welded and machined Alusuisse extrusions; two prototypes have been delivered to FS and the first unit for FNM was nearing completion on November 19, with delivery of the first production trainset scheduled for mid-January.Breda is building 10 three-car units for the extension of Roma metro Line A, and deliveries are now under way. With full-width inter-car gangways, the first trainsets with AC drives to be ordered by Roma have GTO inverters. Mer Mec is supplying an infrastructure recording vehicle to Jernbaneverket of Norway, which is expected to begin trials before the second half of 1998. Based on a 26m Breda ETR500 bodyshell and riding on Fiat bogies, the vehicle will be powered by two Cummins engines driving Voith hydraulic transmissions. Maximum speed when self-propelled will be 160 km/h, but the vehicle can be hauled at up to 200 km/h.Developed to Jernbaneverket specifications for operation at temperatures as low as -40?last_img read more

​Towers Watson Germany hires Deutsche Bank veteran as head of consulting

first_imgReiner Schwinger, managing director at Towers Watson, said he was pleased by Schmidt-Narischkin’s joining the company.“He will put his many years of experience in client and provider-facing roles to good use, developing further tailored holistic products and services for Towers Watson,” he said.Deutsche said it had not yet appointed a replacement, but that Schmidt-Narischkin’s duties would be assumed by Alexander Preininger, global co-head of client solutions, in the interim. Towers Watson Germany has named Nikolaus Schmidt-Narischkin as its new director of consulting services.Schmidt-Narischkin, who in his new role will work to grow the consultancy’s presence in the German market, joined Deutsche Bank’s corporate banking business in 1990.In 2004, he was named head of DB Advisors’ pension solutions division, substantially growing the business in his time.Since 2008, he has been a board member at Deutsche Asset Management and, most recently, was head of EMEA client solutions at Deutsche Asset & Wealth Management – the new asset management business formed by the bank after the sale of several of its companies fell through. last_img read more

Dutch regulator considers outsourcing regulatory tasks

first_imgThe Dutch regulator could outsource supervision of “low-risk” pension funds to private sector providers, it has said.The pensions supervisor De Nederlandsche Bank (DNB) said pension funds with a low risk profile and sound internal supervision could have some regulatory tasks handed over to external providers.In a report about “proportional and effective supervision”, published last week, DNB said the conclusions were the result of a survey – based on feedback from the sector – into whether supervision had been excessive since the financial crisis.According to Frank Elderson, supervisory director for pension funds at the regulator, DNB could, for efficiency reasons, request certain information from providers rather than from pension funds. However, as providers are currently not supervised by DNB, involving them would require legal changes.Elderson said that DNB would also consider sourcing information from asset managers.The report also suggested increased remote supervision of low-risk pension funds, with DNB relying on information and statements from external parties, including actuaries and accountants.Elderson added that a scheme’s funding could also be used as a criterion for relaxing supervision.Jan Sijbrand, DNB’s chairman for supervision, pointed out that the report was the result of a “listen project”, and that the watchdog had compiled a list with more than 100 issues based on signals and complaints from the sector.The report said the regulator’s ad hoc requests – such as for sector and themed surveys – posed the largest supervisory burden for pension funds, as they sometimes came unexpectedly and had short deadlines.DNB rejected warnings from the sector that boards had become distracted by regulations and could not pay sufficient attention to risk management and strategy as a consequence.The survey, however, found that the boards of small pension funds often had to spend more than 30% of their available time on regulations, with indirect costs making up 75% of total supervision costs, compared to 40% at large schemes.The watchdog also promised to proportionally apply the IORP II directive’s requirements for key positions to small and medium-sized pension funds, which were worried that they no longer could outsource, for example, actuarial services.DNB said that it was open to a dialogue with pension funds about their proposals for adhering to the rules set by IORP II.last_img read more

Leahy return a boost for Arravale Rovers

first_imgArravale Rovers manager Sean Dalton believes the return of Donnagh Leahy to their starting line-up could make all the difference in Sunday’s County Senior Football Quarter Final against Loughmore – Castleiney.The inter-county star has been sidelined for the majority of the year through injury, but returned last week against Ardfinnan to deliver a fine performance.The Tipp Town side will be huge underdogs against the County Champions, who are favourites to retain their crown this year.last_img

Holland scores twice to lift Hawks past Storm to square KIJHL Final

first_imgHolland finished the game with three points while Riley Brandt, Ryan Edwards, Dallas Calvin and Braden Fuller also scored for Beaver Valley.Brock Balson and Daniel Buchanan replied for Kamloops, the overall regular season winners.Brett Clark rebounded from a Game one loss to register the win in goal for the Hawks.Wade Moyls started the game for Kamloops but was replaced by Liam McLeod for the final period.This is the third consecutive series Beaver Valley has played the first two games on the road and third time the Hawks have headed home even.The winner advances to the Cyclone Taylor Cup April 10-13 in Nelson. After dropping the opener in the Kootenay International Junior Hockey League Final, the Beaver Valley Nitehawks had the Kamloops Storm right where they wanted.Dan Holland scored twice, including once in a three-goal second period, to spark the Hawks to a 6-2 thrashing of the Storm Saturday night in Spoolmak Country.Beaver Valley squares the best-of-seven KIJHL Championship series at 1-1 with Games three and four, Monday and Tuesday in Fruitvale.Trailing 2-1 after one period, the Hawks scored the next five goals to secure the win, out shooting the host team 32-18 in the final 40 minutes.last_img read more