Cordel expands contract with US railroad G&W

(Sharecast News) - Cordel Group announced an expansion of its contract with US railroad operator Genesee & Wyoming (G&W) on Monday, increasing the scope of its track monitoring services from 900 miles to 2,000 miles across G&W's North American freight rail network. The AIM-traded firm said the agreement also included the deployment of a second Cordel Rugged LiDAR capture system to enhance data collection for G&W's American Region railroads.

Cordel said its AI-powered analytics platform would provide G&W with more accurate and consistent clearance data, particularly for assessing high and wide load movements.

The captured data would be stored and analysed within G&W's dedicated instance of 'Cordel Connect', which was now being extended across the company's enterprise.

Additionally, the 'D/Gauge RIFT' platform would be expanded to further refine clearance data management, supporting more detailed assessments of high and wide freight movement.

"We are delighted by the rapid expansion of our G&W relationship, which validates the effectiveness of our services and the quality of our deliverables," said chief executive officer John Davis.

"We continue to invest in our US sales and engineering team as part of our core growth strategy, with its twin pillars of rail corridor data analysis and positive train control."

At 1224 GMT, shares in Cordel Group were up 6.67% at 8p.

Reporting by Josh White for Sharecast.com.