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MK SELECTED FOR $155-MILLION CONTRACT TO BUILD 88 NEW TRANSIT CARS FOR CALIFORNIA DEPARTMENT OF TRANSPORTATION

MK SELECTED FOR $155-MILLION CONTRACT TO BUILD 88 NEW TRANSIT CARS
 FOR CALIFORNIA DEPARTMENT OF TRANSPORTATION
 BOISE, Idaho, Feb. 10 /PRNewswire/ -- William J. Agee, chairman and chief executive officer of Morrison Knudsen Corp. (MK) (NYSE: MRN), today announced that MK has been selected for a $155-million contract to build 88 new transit cars for the California Department of Transportation (Caltrans).
 The base order for the innovative "California Cars" is 48 short- distance commuters cars and 40 long-distance inter-city cars, some of which will be special purpose cars. The contract contains options for up to 300 additional cars.
 "This order is another indication of MK's growing strength in the rail car market," said Agee. "We now have a foothold in the West Coast market after years serving the needs of rail agencies on the East Coast and in the Midwest."
 At least 10 of the 88 cars for Caltrans will be completed at MK's Hornell, New York, manufacturing site.
 "This contract and others we hope to receive in Northern and Southern California in the near term will generally accelerate our plans to establish an industrial complex in the state," Agee said. "We are evaluating potential sites at both ends of the state."
 He added that MK is planning to seek international transit car contracts and a California facility would be well positioned to export transit cars to Taiwan, Mexico and other foreign markets.
 MK also is now opening a manufacturing facility in Chicago to accommodate a recent major contract award and other transit work the company will pursue in the Midwest.
 The California Cars will have an innovative design that incorporates the same body for inter-city, commuter and regional passenger cars.
 Over 80 percent of the components will be manufactured in the United States. Prototype cars will roll off the assembly line in 18 months and the entire current order will be finished within 30 months.
 MK is the only U.S.-owned manufacturer of transit cars and is a world leader in the development of rail projects of all kinds. The company presently is working in Texas to bring 200-mph passenger train service to North America for the first time. Last year, the Texas High Speed Rail Commission awarded an MK-managed international consortium a 50-year franchise to build, own and operate a very- high-speed rail system serving Dallas-Fort Worth, Houston, San Antonio and Austin.
 An MK-led team also recently was selected to design, build and operate a $1.1-billion automated rapid transit system in Honolulu. And, last month, the company won one of the largest transit car contracts in history -- a $380-million award for 313 cars from Metra, a commuter rail system serving northeastern Illinois.
 "MK's goal is to be an international leader in the transportation market," said Agee. "In Texas, Honolulu, Illinois and California, we competed and won against world-class competition."
 MK has been manufacturing locomotives and transit cars for the past 20 years using new and recycled components, and has played a significant role in the U.S. transportation industry for most of its 80-year history.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial process, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 2/10/92
 /CONTACT: Jess Hawley of Morrison Knudsen, 208-386-5000/
 (MRN) CO: Morrison Knudsen Corp.; Caltrans ST: Idaho, California IN: TRN SU: CON


SC -- SE004 -- 8353 02/10/92 13:58 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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