ABOUT US
In June of 2009 Ohio Railcar Group, LLC, was formed by private investors, affiliated with Value Recovery Group, Inc. (VRG) of Columbus, OH, to acquire the assets of Colorado Railcar Manufacturing to resume the production of the companies popular Diesel Multiple Units (DMUs).
Ohio Railcar Group, LLC and ARI DMU, LLC, a subsidiary of Missouri based American Railcar Industries, Inc. (NASDAQ: ARII) (ARI), have jointly formed US Railcar Company, LLC, which is now the only producer of 49 CFR Section 238 compliant self-propelled passenger railcars in the United States. US Railcar Company, LLC will design, manufacture and sell these DMUs, in both single and bi-level configurations. This joint venture produces railcars for public authorities and communities improving their public transit, commuter and regional rail service.
MANAGMENT
Michael P. Pracht
President & CEO - US Railcar Company, LLC
Mr. Pracht was recruited to help create and lead Ohio Railcar Group during it ’s acquisition of the Colorado Railcar DMU and related assets. Mike’s extensive rail transportation background includes several executive positions at leading global companies in operations, marketing/sales, and business development with impressive results in organizational turnaround/profitability, new product introduction, improved customer satisfaction and increased shareholder value with successful IPO and M&A offerings on the NASADQ.
Prior positions include Executive Vice President at AnsaldoBreda; Marketing/Sales/BD Vice President at Siemens and Ansaldo Signal; Systems Division VP at Union Switch & Signal and Executive VP/General Manager at Ansaldo/Transcontrol.
Mike has testified before Senate Commerce and House T&I Committees advocating passenger rail and the need for a more balanced national transportation policy that includes air, road and rail with comparable priority.
Industry board memberships have included Chairman of the Passenger Transportation Committee at the Railway Supply Institute; Planning Chair for the Railway Systems Suppliers Association; Marketing Committee Chair for the National Railroad Construction & Maintenance Association; and seats on the Governing Board of the Railway Progress Institute and High Speed Ground Transportation Association.
Mike holds a Bachelors of Science Degree in Management & Economics from the State University of New York.
Board of Directors, US Railcar Company, LLC:
Barry H. Fromm, Esq.
Chairman
- Ohio Railcar Group, LLC
Mr. Fromm is Founder, Chairman and CEO of Value Recovery Group, Inc. (VRG), is an international banking, workout, collections and real estate attorney with 18 years contracting and partnering experience with state and federal credit agencies.
In the decade of the 1980’s, Fromm was a contractor for the FSLIC, the FHLB, and the RTC. During the 1990’s, Fromm managed contracts and partnerships for the RTC and the FDIC. He and his firm have been recognized as a leading company in the U.S., performing asset valuations, asset management and disposition services, and debt recovery.
VRG, under Fromm's leadership, has retained its 15 year collection partnership with the FDIC, enjoying FDIC's highest ranking in the U.S. It has a collection contract on a multi-billion dollar portfolio of distressed tax and other receivables for the state of Ohio. VRG also processes and collects on all export insurance and loan guarantee claims (of $20 million or less) for the Export-Import Bank of the United States.
Mr. Fromm began his career in banking with National City Bank. He then became Corporate Counsel for Mid-America Federal S&LA, was a financial institutions consultant for Deloitte & Touche, and then Senior Manager for PriceWaterhouseCoopers.
Mr. Fromm received his B.S. degree from Butler Univeristy and his J.D. from the University of Akron Law School.
James Cowan
President, Chief Executive Officer - American Railcar Industries, Inc.
Mr. Cowan was appointed our president and chief executive officer effective on April 1, 2009 and previously served as our executive vice president and chief operating officer since December 2005. Prior to joining us, he spent the last 26 years in various positions involving the engineering, construction and manufacturing of multiple steel and tubular products. From March 2003 to August 2005, Mr. Cowan served as president and chief operating officer of Maverick Tube Corporation, a North American manufacturer of welded tubular steel products used in the energy industry. Prior to this position, from June 2002 to March 2003, Mr. Cowan served as president and chief operating officer of Vallourec & Mannesmann Star, a French, German and Japanese joint venture and seamless manufacturer of tubular steel products. From January 1992 to June 2002, he served as general manager responsible for all sales and operations of three different steel manufacturing facilities for North Star Steel, a business previously owned by Cargill. Mr. Cowan was responsible for the complete greenfield development, construction and start-up of one of these facilities. From July 1979 to January 1992, he served in differing operational capacities for Cargill’s steel group, North Star Steel. During 2000 and 2001, Mr. Cowan served as the Chairman of the Governor of Ohio’s Steel Council. Mr. Cowan received his B.S. in Metallurgical Engineering from Michigan Technological University.
James E. P. Sisto Esq.
General Counsel
- Ohio Railcar Group, LLC
James E. P. Sisto serves as President and COO of Value Recovery Group. Mr. Sisto has more than 25 years of diverse international and domestic experience in commercial law, business development and operations management. He is skilled in strategic planning and program development as well as government affairs.
Mr. Sisto was Of Counsel with Squire, Sanders & Dempsey L.L.P. where his practice focuses on international business and trade, corporate and economic development matters.
As international trade director for Ohio Governors George V. Voinovich and Bob Taft, from 1993 to 2000, he managed both the domestic and international operations of Ohio’s trade effort including offices in Hong Kong, Japan, Canada, Mexico, Brazil, Argentina, Chile, Belgium, Israel and South Africa.
Mr. Sisto has served as an adjunct professor of international commercial law both at Capital University Law and Graduate Center since 1990 and at The Ohio State University since 1997. Appointed by the U.S. Secretary of Commerce, Mr. Sisto is a member of the Northern Ohio District Export Council.
Mr. Sisto received his B.A. degree fro Ohio Wesleyan University, and his J.D. from Capitol University Law School, and an LLM from Georgetown University Law Center.
Michael Williams
Senior Vice President Operations - American Railcar Industries, Inc.
Mr. Williams has served as our Senior Vice President Operations since April 2009, prior to that Mr. Williams was our Vice President Engineering and Manufacturing, from October 2004 to April 2009 and in various product and account management roles since April 1997. Prior to joining us, Mr. Williams served ACF as a Strength Analyst of covered hopper and tank railcars from January 1991 to March 1997. Mr. Williams served as an Airframe Designer and Analyst at McDonnell Douglas Corporation from May 1983 to December 1990. Mr. Williams received his B.S. in Mechanical Engineering from the University of Illinois and an M.S. in Mechanical Engineering and an MBA from Washington University.