Union Pacific (NYSE:UNP)
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3 Months : From Nov 2019 to Feb 2020
By Colin Kellaher
Union Pacific Corp. (UNP) on Monday said it has completed implementation of the anticrash technology known as positive train control, or PTC, a year ahead of the federal government's December 2020 deadline.
The Omaha, Neb., railroad company said the technology is now in place on all of its federally mandated rail lines, including required passenger train routes.
Congress in 2008 ordered railroads to install the system, which it designed to prevent such incidents as train-to-train collisions and derailments caused by excessive speed.
Union Pacific said 16 of the 25 freight and passenger railroads it currently hosts are now compliant, encompassing 85% of its interoperable PTC train miles. The company said it will work with the remaining partner railroads in a bid to reach interoperability by mid-2020.
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(END) Dow Jones Newswires
December 16, 2019 11:46 ET (16:46 GMT)
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