Published:
MISCOR Group Announces Opening of AMP Rail Services Canada
SOUTH BEND, Ind., Sept. 11 /PRNewswire-FirstCall/ -- Industrial services
provider MISCOR Group, Ltd. (OTC Bulletin Board: MIGL) today announced the
opening of AMP Rail Service Canada, ULC, a 50,000-square-foot locomotive and
rail car service center inMontreal. The Canadian operation, a first for
MISCOR, is a division of American Motive Power, Inc. (AMP), which is a unit of
MISCOR's industry-leading Repair, Remanufacturing and Manufacturing Division
(RRM).
MISCOR said the facility provides significant track access to the Canadian
National (CN) main line, and will allow AMP to offer a full range of services
including inspections, running repairs, overhaul and modification programs, as
well as upgrades to both freight and passenger locomotives and transit cars.
The Company also noted the centralized location gives it broad access to the
Canadian rail market and the surrounding area provides significant space for
potential future expansion.
"Increasing customer demand combined with a lack of single-source
locomotive overhaul and repair shops in the area make this facility a natural
fit for our entrepreneurial organization," said John Martell, CEO of MISCOR.
"We have a growing international reputation for on-time and on-budget service,
so our customers know when they need support that our team of experienced
frontline professionals are ready to respond."
The Company also announced that with the opening of the new facility,
Pierre Desrosiers has assumed the role of Vice President of AMP Rail Services
Canada, having previously served as Vice President of Operations at the
American Motive Power facility inDansville, New York. Prior to his time with
AMP, Desrosiers was the Director of the Locomotive Division for ALSTOM
Transport Canada inMontreal. He has also held other management positions in
the Canadian rail industry throughout his career.
In addition, MISCOR announced that Stewart Wilkins has been named Vice
President of Operations for American Motive Power, Inc., with primary
responsibility of managing operations at the AMP facility inDansville.
Previously, Wilkins served as a Vice President of Operations for ALSTOM
Transportation, where he was a key member of the management team overseeing
the transit car manufacturing facility. Prior to his time with ALSTOM, he was
responsible for the maintenance of a fleet of nearly 500 locomotives operating
in coal service for Burlington Northern Santa Fe. In addition, he oversaw the
maintenance of 150 freight locomotives in intermodal service on the CSX
system.
"Stewart brings a wealth of technical, operational and leadership
experience to our industry-leading railroad team, and we look forward to his
contributions as we continue to grow this segment of our business," said
Richard Tamborski, Executive Vice President and COO of MISCOR.
"These two operations have a number of worldwide opportunities in both
freight and transit rail that are a direct result of our ability to meet the
growing needs within the industry. In addition, the geographic benefits of
our facility locations, combined with our experienced workforce, give us a
solid business platform for future growth," said Frank Larkin, Executive Vice
President of American Motive Power.
MISCOR also noted that its American Motive Power, HK Engine Components and
Magnetech Industrial Services divisions will have booths at the RSI Global
Railway Tech event being held from September 21-24, 2008 inChicago, offering
a wide array of products and services to the rail industry.
About MISCOR
South Bend, Ind.-based MISCOR Group, Ltd. (OTC Bulletin Board: MIGL)
provides electrical and mechanical solutions to industrial, commercial and
institutional customers through two segments: RRM (repair, remanufacturing and
manufacturing) segment, which provides maintenance and repair services for
industrial motors, generators and lifting magnets, and diesel engine component
manufacturing, remanufacturing and repair services; and CES (construction and
engineering services) segment, which provides a wide range of electrical and
mechanical contracting services and engineering and repair services for
electrical power distribution systems.
In 2007, MISCOR entered the wind power industry through its acquisition of
3-D Service, Ltd., providing up-tower and in-shop wind power service including
comprehensive inspections; filter and lubricant replacement; bearing and slip
ring replacement; coupling and gearbox service; balancing and alignment;
predictive maintenance, and equipment repair and remanufacturing. MISCOR was
ranked on the Inc. 500 in 2004 and 2005 and has grown to more than 700
employees in 15 locations nationwide.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Words such as "anticipates," "believes,"
"estimates," "expects," "intends," "should," "could," "will," or variations of
such words and similar expressions are intended to identify forward-looking
statements. These forward-looking statements reflect the Company's views,
expectations and beliefs at the time such statements were made with respect to
such matters, and may cover such items as the Company's future plans,
objectives, events, contract pricing and results such as revenues, expenses,
income, earnings per share, capital expenditures, operating margins, financial
position, expected results of operations and other financial items. There are
a number of factors, many of which are beyond the Company's control, which
could cause actual results and outcomes to differ materially from those
described in the forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve certain risks, uncertainties
and assumptions ("Risk Factors") that make the timing, extent, likelihood and
degree of occurrence of these matters difficult to predict.
Risk Factors include, among others: price of raw materials, ability to win
and service competitively priced new contracts in sufficient amounts to
operate and expand effectively, employee turnover, ability to compete in
highly competitive, geographically diverse marketplaces, and varying and
sometimes volatile economic conditions. For further discussion of risks and
uncertainties, individuals should refer to the Company's SEC filings. MISCOR
Group, Ltd. undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances occurring after
this press release is issued. You are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in their entirety
by this cautionary statement.
SOURCE MISCOR Group, Ltd.
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Copyright © 2008, NewsBlaze,
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