History
The company was first organized as Rader Railcar. Founded by Tom Rader in 1988, the company changed its name to Colorado Railcar in November 1997.
Rader and his company were featured in the PBS-aired documentary Dome Car Magic in 2006.
In 2008, it was announced that sometime in 2007 TriMet had to directly pay Colorado Railcar's suppliers in order to financially support the company.
On December 23, 2008, Colorado Railcar ceased operations, and creditors began dissolving the company after a "major liquidity problem." The shut-down was at least partially caused by the State of Vermont's cancellation of a deal to buy several DMUs for the Vermonter train.
In 2009, private investors affiliated with Value Recovery Group, Inc. (VRG) of Columbus, Ohio, led by Barry H. Fromm acquired the Colorado Railcar DMU and remaining assets. A new company, US Railcar, was established, appointing Michael P. Pracht its President & CEO. US Railcar planned to resume production of Colorado Railcar products in a new manufacturing facility located in the Midwest (likely American Railcar’s plant in Paragould, Arkansas).
Read more about this topic: Colorado Railcar
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