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News: Downer EDI strikes 10-year $1B rail deal

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    Downer EDI Limited (ASX:DOW) has struck a 10-year maintenance agreement with Pacific National valued at about $1 billion.
    Under the deal the engineering company will provide a full suite of asset management services for more than 300 Pacific National locomotives.
    Downer EDI will aim to ensure the locomotives are out on the tracks for longer hours and that the locomotives are running at higher levels of reliability.
    CEO Grant Fenn says the agreement is an important development for Downer’s transformation to providing total rail asset solutions to customers. 
    Downer EDI reported a net profit of $215.9 million in the 2014 financial year. 
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