[PRCo] First Transit

[John Swindler]

About a week or so ago Fred3 mentioned either First Transit or Stagecoach as possibly operating some British rail lines.  
 
While exercising the delete key, came across the following.  As a warning, this was ten years ago.  As a possible Pittsburgh connection, First Transit operates the replacement for the Charleroi interurban.
  


FIRSTGROUP PLC:  US
TRANSIT ACQUISITION

Company News Feed formerly Regulatory News Service


May 22, 2003



FirstGroup plc is pleased to announce that it has agreed
terms under which 

its North American transit division, will purchase the
operational assets of 


Coach USA's transit division, a wholly owned subsidiary of
Stagecoach Group 


plc, for a purchase price of US$22.5 million.



The business to be acquired has annualised turnover of US$95
million. Assets 

include operational contracts from Coach USA's transit
division. The 


business has contracts to operate some 1,200 buses on behalf
of transit 


authorities and other bodies in states such as California,
Florida and New 


York and employs some 2,000 staff.



The transaction is conditional on, among other things,
approval from 

affected public authorities.



Commenting, Iain Lanaghan, Finance Director said: "This
is an excellent 

strategic fit with our existing transit operations in the US
and continues 


our successful programme of in-fill acquisitions at
attractive multiples. 


Across our three North American divisions, First Student,
First Transit and 


First Services we are continuing to grow by winning new
business and making 


acquisitions."



 FirstGroup plc is a UK based international transport company
with a turnover 

of more than 2 billion a year, and 57,000 employees
throughout the UK and 


North America.



* The Group is Britain's largest bus operator running more
than one in five 

of all local bus services. A fleet of some 9,500 buses
carries 2.7 million 


passengers a day in more than 40 towns and cities.



* The Group is also one of the UK's largest rail operators
with three 

franchises - First Great Western, First Great Eastern and
First North 


Western. It is introducing new trains in each franchise at a
cost of than 


200 million. The group operates nearly one-fifth of the UK
passenger rail 


network, with a balanced portfolio of inter-city, London
commuter, and 


regional services.



* It holds the operating contract for the Croydon Tramlink
network, which 

carries over 20 million passengers a year.



* In North America the Group has three operating divisions:
Yellow School 

Buses (First Student), Transit Contracting and Management
Services (First 


Transit) and Vehicle Maintenance and ancillary services
(First Services).  


Headquartered in Cincinnati the businesses operate across
the US and Canada.



+ First Student is the second largest provider of Yellow
school buses in the 

USA and the third largest in Canada. With a fleet of some
15,500 school 


buses it transports nearly one million students everyday.



+ First Transit is one of the largest private sector
providers of urban bus 

services in the US, managing public transport systems on
behalf of cities 


such as Houston, Dallas and Denver.



+ First Services is the largest private sector provider of
vehicle 

maintenance in the US. Maintaining fleets and equipment for
primarily public 


sector customers such as cities, counties, fire and police
departments



 


 		 	   		  


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