Liquidated: Colorado Railcar, now US Railcar

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Re: In Liquidation: Colorado Railcar

Postby Gilbert B Norman » Fri Aug 07, 2009 9:12 am

It appears that Colorado Railcar will resurrect:

http://www.reuters.com/article/pressRel ... RN20090701

Brief passage:

    COLUMBUS, Ohio, July 1 /PRNewswire/ -- Private investors affiliated with Value
    Recovery Group, Inc. (VRG) of Columbus, OH, have acquired the Colorado Railcar
    DMU and will resume manufacturing this modern domestically produced passenger
    train in a new manufacturing facility to be established later this year
    pending state/local incentives and final round investments. Assets acquired
    by US Railcar include the former Colorado Railcar DMU proprietary rights and
    information, manufacturing documentation, inventory, and other equipment
    necessary for production
While this development likely means that the mass transit agencies having orders on the CRC books will get their equipment, I hold that well established agencies, i.e. New York, Chicago, Boston, etc, as well as Amtrak will have difficulty considering any successor to CRC as a "responsible bidder".

CRC's other market, namely equipment for "luxotrains" can only be considered as quite limited; if VIA Rail Canada is to enter the market for re-equipping its "luxotrain of sorts", The Canadian, there would be strong pressure to favor a Canadian rail car builder, which pretty much means "bombs away".
Last edited by Gilbert B Norman on Fri Aug 07, 2009 9:26 am, edited 1 time in total.
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Postby John_Perkowski » Fri Aug 07, 2009 9:20 am

I wonder how little the acquisition cost?

Value Recovery Group (url http://www.valuerecovery.com/ ) appears to buy distressed assets and try to turn them around. From the CEO's name (Barry Fromm), it appears they are a sub of or a co-populated corporation to the Fromm Law Group. It looks to me like they bought the DMU assets. I suspect the other passenger car assets which were CRC property are off to the scrapper.

My questions are: Can they actually bend metal? Can they make a sale?

BTW, the URLs for US Railcar:

Website: http://www.usrailcar.com/

DMU Brochure: http://www.usrailcar.com/documents/usra ... ochure.pdf

Finally, parallel discussion, focuing on the pure DMU aspects...
viewtopic.php?f=11&t=42360
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Re: Liquidated: Colorado Railcar, now US Railcar

Postby John_Perkowski » Thu Aug 27, 2009 3:55 pm

For Sale: The real estate of the late Colorado Railcar Company. $32.46 per square foot cost:

http://www.loopnet.com/property/1617486 ... th-Street/

Nothing said about state of remediation. Value Recovery allegedly took all the equipment and usable stock away in addition to the intellectual property.
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Re: Liquidated: Colorado Railcar, now US Railcar

Postby John_Perkowski » Tue Sep 15, 2009 3:53 pm

Cue the Mamas and the Papas: Dream a Little Dream....

Ohio company seeks $8.7B in stimulus money to make passenger trains for Obama's rail plan

The company would apply for $8.7 million in federal stimulus money to build the plant, with the state offering $3.6 million in economic assistance. The remaining $2.1 million would come from private investment.


The taxpayer as "venture capital angel." Any bets?

Comment: I guess the Chicago Tribune no longer employs proofreaders.
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Re: Liquidated: Colorado Railcar, now US Railcar

Postby DutchRailnut » Sat Nov 20, 2010 7:12 pm

St. Louis Business Journal
Wednesday, November 17, 2010, 5:32pm CST
by Kelsey Volkmann

> ...Nine months after forming it, American Railcar has dissolved a
> joint venture created in February to build passenger railcars...
>
> ..."The decision to dissolve the joint venture was the result of
> current market conditions for (Diesel Multiple Units) orders,"
> American Railcar said in the filing.


Read the story here.

Edited by a moderator (URL format) 11-22-10 955AM CST
If Conductors are in charge, why are they promoted to be Engineer???

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