As the race for high speed rail stimulus dollars gets underway, international firms stand to gain the most benefit as few if any U.S. firms are capable of building the rolling stock the new systems will need.
"Companies based outside the U.S. have the most experience with high-speed rail, and several are jockeying to curry favor with California, Illinois, Florida and other leading candidates to receive funding.
Siemens USA, a subsidiary of Germany-based Siemens AG, has spent $76 million to expand a factory in Sacramento, Calif., where it builds rail cars. The company has already provided passenger vehicles for light-rail systems in San Diego, Denver and Salt Lake City, and it plans to hire more than 100 workers in the year or so ahead as it competes for stimulus-funded contracts."
Others -- from Canada to France to Spain -- are likely to gobble up the available contracts as projects get underway.
Read the full story: Race Is On to Grab Stake in Rail Effort
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