lane of southbound Route 123 between Scotts Crossing Road and the I-495 Capital
Beltway Inner Loop will close for approximately two years beginning on or about
Monday, Feb. 22. The closing had been previously scheduled to begin on or about
Feb. 8 but the recent snowstorms forced a delay.
L. B. Foster Company and
Portec Rail Products, Inc., both headquartered in Pittsburgh, jointly announced
the signing of an Agreement and Plan of Merger under which L. B. Foster will
make, through its wholly owned acquisition subsidiary, a cash tender offer to
acquire all of Portec's outstanding shares of common stock for $11.71 per share
Hampton Roads Transit's
new president and CEO, Philip Shucet, called for the inspector general to
investigate the agency's light-rail project and business practices, The
Virginian-Pilot reports. HRT in recent months has been faulted for amassing
more than $100 million in cost overruns on Norfolk's starter light-rail line
and for failing to pursue a suspected embezzlement of $80,000.
Koppers Inc., a
wholly-owned subsidiary of Koppers Holdings Inc. said it has completed a
transaction with Barham-Sevier Tie Company, Inc. to acquire a crosstie
procurement business that includes land and equipment for an undisclosed
purchase price. The asset purchase from Barham-Sevier is expected to result in
total additional revenues of approximately $8 to $10 million on an annual basis.
The Wisconsin Legislature's
Joint Finance Committee agreed Feb. 16 to accept $822 million in federal
stimulus funds for high-speed rail linking Madison, Milwaukee and Chicago, but
not before lawmakers wrangled over whether the project was necessary, the
Milwaukee Journal Sentinel reports. The funds had been sought by Gov. Jim Doyle
to link the three cities - and potentially the Twin Cities. The vote represents
the final action for Wisconsin to tap the stimulus funding for rail.
A light rail plan along
Woodward to connect downtown Detroit with New Center will get a $25-million
infusion of federal money, officials briefed on the matter told The Detroit
News. The federal funds -- to be announced Feb. 17 -- are a big boost for the
M-1 Rail Project, which would represent Detroit's first foray into rail-based
public transit since the opening of the People Mover in 1987.
Sidetracked for nearly four
years, an ambitious plan to convert the Farley Post Office into a train station
named after Sen. Daniel Patrick Moynihan got a jump-start when the federal
government kicked in $83.3 million in stimulus funds to put the project back on
track, the New York Daily News reports. The funding gives the state the $267
million it needs to begin Moynihan Station's first phase, which will create new
access to rail platforms beneath the post office and expanded rail facilities
in Penn Station across the street.
The Canadian federal
government has said it will fund its share of infrastructure improvements
needed for Huron Central Rail if the Province of Ontario signs a Canada-Ontario
Provincial-Territorial Base Fund Agreement, The Sault Star reports.
Jim Cline was recently
selected as the new president of the Denton County Transportation Authority,
local media report. Cline will begin his new position on March 1. Denton County
is part of the Dallas-Ft. Worth Metroplex.