KCS gives Shoener board seat, orders 60 trains

KCS gives Shoener board seat, orders 60 trains    Arthur L. Shoener has been named Kansas City Southern’s president and chief operating officer and given a place on the company’s board of directors.
   Shoener was executive vice president and COO of KCS. He will serve on the KCS board until its annual shareholders meeting in 2008, after which he will be eligible for nomination by the board and election by the shareholders.
   Shoener will continue as president and chief executive officer of Kansas City Southern Railway Co. and as vice chairman of Kansas City Southern de Mexico.
   In a separate development, The KCS board of directors has approved the acquisition of 30 GE Transportation Systems ES44AC locomotives to be delivered between the end of this year and the start of 2007, and 30 EMD SD70ACe locomotives to be delivered by the end of the third quarter 2007. Financial details of either order were not disclosed.
   “This plan will allow KCS to replace three older locomotives with two newer locomotives, improving the economics of fuel and maintenance for KCS’ operating subsidiaries, and reducing the overall number of locomotives,” KCS said.
   “The acquisition of these new locomotives, coupled with the retirement of the older units, will have a net positive effect on the company’s annual operating cash flow and EBITDA, and will improve its overall liquidity position.”