Printer Friendly

MORRISON KNUDSEN ISSUES STATEMENT IN RESPONSE TO RCC BOARD DECISION

 BOISE, Idaho, June 14 /PRNewswire/ -- The following statement was issued by William J. Agee, Morrison Knudsen Corp. (MK) (NYSE: MRN) chairman and chief executive officer, in response to today's Rail Construction Corp. (RCC) Board decision:
 "Although we appreciate the vote of confidence in MK's technical ability, we believe the RCC board majority failed to properly weigh the significance of the $18-million gap between our team and Siemens.
 "One must question how many worthy transportation projects will be denied funding, if the additional $18 million is awarded to Siemens?
 "We are proposing to build the 74 rail cars in California, employ nearly 300 workers, stimulate the state's economy by $37 million, all at the lowest cost to the taxpayers.
 "The preliminaries are now over. It is up to the Los Angeles County Metropolitan Transportation Authority to decide whether it puts more weight in a staff ranking system or in the $18-million gap between our lowest bid and the second-highest bid by Siemens."
 -0- 6/14/93
 /CONTACT: Kevin Brett of Morrison Knudsen, 208-386-6611/
 (MRN)


CO: Morrison Knudsen Corp.; Rail Construction Corp.; Siemens;
 Los Angeles County Metropolitan Transportation Authority ST: Idaho, California IN: TRN SU:


SW -- SE014 -- 1885 06/14/93 19:33 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 14, 1993
Words:202
Previous Article:NHI NELSON HOLDINGS INTERNATIONAL LTD. EXCHANGES COMMON SHARES
Next Article:CORNUCOPIA RESOURCES LTD. ANNOUNCES UPDATE ON OPTIONS
Topics:


Related Articles
MORRISON KNUDSEN ANNOUNCES CESSATION OF DISCUSSIONS WITH SUMITOMO OVER GREEN LINE
MORRISON KNUDSEN: PROMINENT AUSTRALIAN BUSINESSMAN WILL J. BAILEY NAMED CHAIRMAN, MK AUSTRALIA
MORRISON KNUDSEN UNVEILS FIRST PASSENGER RAIL CAR BUILT AT CHICAGO'S HISTORIC PULLMAN PLANT SINCE WORLD WAR II
MK TO SUPPLY COMMUTER LOCOMOTIVES TONORTH SAN DIEGO COUNTY TRANSIT DEVELOPMENT BOARD
MK RAIL BOARD FORMS SELECT COMMITTEE
FINANCIAL DISTRESS EXCEPTION TO NYSE'S SHAREHOLDER APPROVAL POLICY
MK RAIL ANNOUNCES AGREEMENT TO REPURCHASE DEBT

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters