More Tuesday morning rail news:
OmniTRAX names Piacente as new CEO
Short line and transportation company OmniTRAX has named Dean Piacente as its new CEO, effective Feb. 1. Piacente has more than 20 years’ experience as a commercial executive at CSX Transportation, and brings more than 30 years of financial planning, analysis, and expertise in intermodal, industrial, chemical, energy, and third-party logistics. “OmniTRAX’s growth is truly impressive and has produced a strong franchise comprised of diverse rail properties in key markets with tremendous opportunities that span the nation,” Piacente said in a press release. “I’m excited to bring my Class I customer and partner relationships to OmniTRAX to help realize our full potential.” A New York native and Florida State graduate, he has executive education credentials from Harvard Business School and Columbia University. “Dean is one of the most respected business leaders in rail. His depth of Class I commercial experience, record of sustained results, and demonstrated leadership make him the ideal person to lead OmniTRAX’s continued growth,” OmniTRAX board member David Garin said in the release.
Alstom to acquire California-based B&C Transit
Rail equipment manufacturer Alstom is acquiring B&C Transit, an Oakland, Calif.-based design and construction firm specializing in rail signal and communications products. Alstom says the acquisition reinforces its position in the North American signal market by combining the companies’ advanced technology and engineering capabilities. “B&C Transit’s expertise in signalling and communications engineering and design is the perfect complement to Alstom’s advanced technology solutions,” Jérôme Wallut, Senior Vice President for Alstom North America, says in a press release. “Customers will benefit from additional resource capacity and an extensive footprint across North America that will further enable localized development, delivery and support.” B&C employs approximately 85 people across the U.S.; prior projects include San Francisco Muni’s Central Subway and Miami-Dade’s Metrorail control center and systems. The transaction is expected to close in the first quarter of 2021.
MBTA building savings for 2022 fiscal year
A combination of decreased spending because of reduced operations and greater-than-expected sales tax revenue has allowed the Massachusetts Bay Transportation Authority to save almost $71 million so far in fiscal 2021, and the figure could reach $314 million. State House News Service reports that MBTA General Manager Steve Poftak told the Financial and Management Control Board that the money is being held to address any budget gap that might occur in fiscal 2022 if pandemic-reduced ridership is slow to return. It could be used to address a budget shortfall or reverse current service cuts. The move toward savings has drawn some criticism from lawmakers and transit advocates who would prefer to see it spent to maintain more service for those still using the transit system.
