December 30, 2008

Colorado Railcar to fold

Announcing that it is ceasing business operations, Fort Lupton, Colo.-based Colorado Railcar Manufacturing LLC will release all its employees Dec. 31, according to a statement posted on the company's Website by President and CEO Larry E. Salci.

Salci’s statement noted that Colorado Railcar has a major liquidity problem, their lenders have a secured position in the assets of the company and, therefore, are in the process of liquidation.

The company was attempting to rejuvenate passenger railcar manufacturing in the U.S., and featured diesel multiple-unit (DMU) equipment options, but actual purchases were limited.

Colorado Railcar’s DMUs will debut on Portland TriMet’s Westside Express Service on Feb. 9.

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