Press release
CSX Investments and Policy Enhancements Drive Multi-year Safety Improvement Trend
JACKSONVILLE, Fla., March 07, 2023 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) has achieved record safety performance in recent years through a rigorous and
About this update from Csx Corporation
[{"type":"text","content":"JACKSONVILLE, Fla., March 07, 2023 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) has achieved record safety performance in recent years through a rigorous and comprehensive approach that includes investments in infrastructure and technology; a growing workforce; fluid network operations; and a safety culture that emphasizes employee training and coaching. “CSX understands that safety is the foundation of our business, which depends upon our ability to work collaboratively as a ONE CSX team to deliver customers’ freight safely, reliably and sustainably,” said Joe Hinrichs, president and chief executive officer. “Everything we do at our company is centered around our recognition that the safety of our employees and the communities where we operate is paramount.” Since CSX began transforming its operating model in 2017, the company has achieved new levels of safety and operating performance. It is the leader among Class I railroads with the fewest train accidents and the lowest average rate of Federal Railroad Administration injuries since 2019. At the same time, CSX has established itself as the industry leader in service performance metrics, affirming that network fluidity and safety go hand in hand. CSX’s rise as the industry’s safety and service leader has been driven by multiple factors, including: Investments in technology and infrastructure CSX has consistently increased its annual investment on core infrastructure and will spend $1.7 billion out of a total $2.3 billion capital budget on track, bridge and signal projects in 2023. Over the five-year period from 2017 through 2021, the company spent $500 million more on core infrastructure than in the previous five-year period and has continued to increase spending each year.CSX has already updated several hot bearing detectors (HBDs) across its rail network with connectivity to facilitate remote monitoring. The company has also over the past three years been updating the HBDs to second-generation technology that is more effective in detecting overheated rail car wheel bearings, and consistently inspects the units every two weeks to ensure optimal performance. The HBDs are deployed every 15.1 miles along key routes and 16.2 miles along all CSX routes. The company is proactively preparing to install 53 additional detectors over the course of 2023, extending coverage to ensure that HBDs ...