Printer Friendly

MORRISON KNUDSEN WINS $380-MILLION TRANSIT CAR CONTRACT FROM CHICAGO METRA

 MORRISON KNUDSEN WINS $380-MILLION TRANSIT CAR CONTRACT
 FROM CHICAGO METRA
 BOISE, Idaho, Jan. 17 /PRNewswire/ -- William J. Agee, chairman and chief executive officer of Morrison Knudsen Corp. (MK) (NYSE: MRN), announced today that MK has been selected for a $380-million contract from the Illinois METRA Authority (Metropolitan Rail) to manufacture 173 new transit cars and remanufacture an additional 140 existing transit cars.
 The contract is the largest transit car order in MK history and one of the largest in U.S. history.
 "Today is a banner day for MK, Chicago and the nation," Agee said at a press conference in Chicago. "This contract puts to work the finest rail team in the world, headed by MK, a company without peer for quality, safety and on-time delivery."
 Agee said MK will immediately establish an industrial facility in Chicago to perform the work.
 "The nation's transportation is experiencing a renaissance as we finally begin to make the national investment that has been needed for so long," said Agee. "MK is the only U.S.-domiciled manufacturer of new transit cars, which obviously gives us a strategic advantage in this growing market."
 Delivery of the final new cars and remanufactured units is scheduled for December of 1995. The new cars will be push-pull commuter coaches and the cars to be remanufactured are self-propelled commuter rail cars. Both are double-decker units and will be handicapped accessible.
 In December, MK delivered the first new transit cars in an order for the Chicago Transit Authority. The contract called for 256 new cars at a total contract value of $208 million, with options that could increase the order to $311 million.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial processing, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 1/17/92
 /CONTACT: Jess Hawley of Morrison Knudsen, 208-386-5000/
 (MRN) CO: Morrison Knudsen Corp.; Illinois METRA Authority ST: Idaho IN: TRN SU: CON


LM -- SE005 -- 1032 01/17/92 13:37 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 17, 1992
Words:334
Previous Article:FIRST-TIME BUYERS BUOYED WEAK 1991 HOME BUYING MARKET
Next Article:NEWCOR ANNOUNCES STOCK PURCHASE
Topics:


Related Articles
MORRISON KNUDSEN ANNOUNCES CESSATION OF DISCUSSIONS WITH SUMITOMO OVER GREEN LINE
MK SELECTED FOR $155-MILLION CONTRACT TO BUILD 88 NEW TRANSIT CARS FOR CALIFORNIA DEPARTMENT OF TRANSPORTATION
BART BOARD SELECTS MK TO BUILD 80 NEW TRANSIT CARS
MK RECOMMENDED FOR CONTRACT TO BUILD 50 TO 80 NEW CARS FOR BART; STAFF FINDS MK'S TECHNICAL RATING AND BID SUPERIOR TO JAPANESE COMPETITORS'
MK AND METRA WIN COURT APPROVAL ON $380 MILLION METRA CONTRACT
MK AND METRA WIN COURT APPROVAL ON $380 MILLION METRA CONTRACT
MORRISON KNUDSEN REPORTS FIRST QUARTER EARNINGS; ACHIEVES RECORD BACKLOG
MORRISON KNUDSEN CORP. STOCKHOLDERS MEET; FOUR DIRECTORS REELECTED; 20-CENT DIVIDEND DECLARED
MORRISON KNUDSEN UNVEILS FIRST PASSENGER RAIL CAR BUILT AT CHICAGO'S HISTORIC PULLMAN PLANT SINCE WORLD WAR II
MORRISON KNUDSEN CORP. UNVEILS FOUR RAILCARS IN ONE DAY IN MIDWEST AND ON WEST COAST

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters