RailWorks Corporation Recapitalizes Company, Strengthens Senior Management Team; Raymond List Named CEO, Ken Campbell Named CFO, Ken Bauer To Lead National Transit Group.Business Editors WHITE PLAINS, N.Y.--(BUSINESS WIRE)--May 25, 2004 RailWorks Corporation, a leading provider of construction, maintenance and material solutions for the rail and rail-transit industries, announced today that engineering and construction industry veterans Raymond E. List and Ken Campbell have joined the company. List will serve as president and chief executive officer. Campbell will serve as chief financial officer. Campbell succeeds Ken Bauer, formerly RailWorks Corporation's chief financial officer. Bauer was previously president of the Long Island Rail Road and will serve RailWorks as president of the National Transit Group. Ben D'Alessandro will continue as president of the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Transit Group. Bill Donley will continue in his role as president of the Track Products & Services Group. RailWorks' realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. and senior management additions were made in conjunction with successful efforts to recapitalize the company and with the support of its principal shareholder, MatlinPatterson Global Opportunities Partners. The recapitalization eliminated $64 million of debt, postponed for two years interest on $81 million of debt, and added a new working capital facility for up to $30 million. "The financial investment and management changes completed at RailWorks will allow the company to successfully pursue the attractive growth opportunities we see in this sector," says David Matlin, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MatlinPatterson Global Advisers LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . "RailWorks' positioning and the commitment of its financial partners, together with its 100-year project heritage, give us a wonderful foundation to build a successful enterprise for our clients, lenders, shareholders, employees and other business partners," adds List, RailWorks' president and CEO. Over the past 25 years, List has been a senior manager and management consultant in many successful growth and transitional businesses. He served as president/CEO of the following enterprises: GVG GVG Giving GVG Grass Valley Group GVG Guild Versus Guild (Guild Wars, online game) GVG Grundstücksverwaltungsgesellschaft der Stadt Mainz Inc., Cohr Inc., ICF (Internet Connection Firewall) The built-in firewall in Windows XP. It provides a stateful inspection of packets which accepts only responses to requests originated by the user. Kaiser Engineers, Kaiser Engineers, ICF Technology, and The Venture Fund of Washington. He also has operated his own management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects business, served as an officer of Arthur D. Little Arthur D. Little, Inc. is the world's first management consulting firm. Founded in 1886 by Arthur Dehon Little, an MIT chemist who discovered acetate, and co-worker Roger Griffin, in Cambridge, Massachusetts, Arthur D. Little pioneered the concept of contracted technology research. , and appeared on the cover of Engineering News Record for his leadership in the successful turnaround of Kaiser Engineers. Campbell joins RailWorks after helping the company to complete its recent restructuring. Over the past seven years, Campbell has played an integral role in a number of successful business turnarounds. Prior to that, he was the chief financial officer for Kaiser Engineers, where he worked with List on its successful turnaround in the late 1980s. Bauer joined RailWorks in 2003 following a 30-plus-year career with the Metropolitan Transportation Authority, a regional mass transit network serving 2.3 billion commuters annually in the greater New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . During his tenure as president of the Long Island Rail Road, the nation's largest commuter railroad, he led the organization to new standards in operational performance, safety and customer satisfaction. He won favor with commuters and employees for listening to their concerns and responding with needed changes. About RailWorks Corporation Founded in 1998, RailWorks Corporation provides reliable construction, maintenance, and material solutions for the rail and rail-transit industries. With revenues of approximately $450 million, RailWorks is a leading provider of integrated rail systems services and products in the United States and Canada. RailWorks is now a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . |
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