(The following report appeared on the Daily Press website on April 5.)
HAMPTON ROADS, Va. — Norfolk Southern Corp. plans to acquire 50 more new locomotives than initially planned this year in response to continuing increases in traffic levels.
The 50 locomotives will be in addition to the purchase of 52 high-adhesion locomotives announced in the 2005 capital spending budget, increasing the number of locomotives in Norfolk Southern’s fleet to nearly 4,000 units.
The Norfolk-based company is coming off a year of record volume growth and strong demand for rail transportation of freight, officials said. For 2004, the company earned $923 million (that included a third-quarter noncash gain of $53 million from the Conrail reorganization), a 73 percent increase from a net income of $535 million in 2003.
Norfolk Southern, the nation’s fourth-largest railroad, employs 28,000 nationwide, including about 900 in Hampton Roads. Its Norfolk Southern Railway subsidiary operates about 21,300 route miles in 22 states, the District of Columbia and Ontario, Canada.