On September 6 RailWorks Corp of the USA announced that it had purchased the Transportation Systems Group of United Industrial Corp, owner of AAI Corp. The AAI plant in Maryland is to be leased by RailWorks, which has assumed the four contracts worth a total of US$200m currently being undertaken by the Transportation Systems Group.
The new Railworks Transit Vehicle Group will complete the upgrading of 116 Comet II commuter coaches for New Jersey Transit, and the refurbishment of 100 metro cars for Maryland Mass Transportation Authority. TVG is also building 192 metro cars for Washington Metropolitan Area Transit Authority. RailWorks Corp Chairman & CEO John Larkin expected TVG to provide ’a substantial strategic growth avenue’ that complements the firm’s infrastructure business.