Champlain Will Supply High-Performance Cables for Over 200 MARTA Rail Cars!
The success of a company is the benchmark of those victories which reflect its commitment to innovation and quality. Champlain Cable, a subsidiary of American Industrial Acquisition Corporation owned by Leonard Levie, has achieved such a benchmark by winning the subcontract of the Stadler Rail Car Project.
Stadler US Inc. was awarded the contract of metro trains by the Metropolitan Atlanta Rapid Transit Authority (MARTA). The MARTA METRO Project is a multi-year contract that is worth several million dollars and is meant to develop metro trains intended for service to the world’s largest airport, Hartsfield-Jackson Atlanta International Airport.
To successfully complete the order of metro trains on time, Stadler is looking for partners who can supply the best quality components. Stadler selected Champlain Cable to supply high-performance wire and cable for more than 200 rail cars for the MARTA Metro project.
This is a moment of celebration for Champlain Cable for being recognized at such a huge level for its sheer dedication to innovation, compliance, responsiveness, and attention to detail.
According to the agreement made between Champlain Cable and Stadler US Inc, Champlain Cable will now support the expanding MARTA rail network by supplying its highly innovative EXRAD-RHF low-smoke, halogen-free (LSHF) polymer technology and crosslinking capability. Champlain Cable will commence the supply in 2022 and is scheduled to conclude in 2028-2029.
The Success Journey of Champlain Cable that Was Once Under-Performing
Champlain Cable, now a successfully running company, was once burdened with thousands of related asbestos claims and soil and underground environmental cleanup obligations along with pension underfunding liabilities worth $594,000. This transformation didn’t happen overnight.
Champlain Cable was acquired by an AIAC affiliate - CC Acquisition Corporation in June 2003 from Huber + Suhner based in Zurich, Switzerland. At the end of December 2002, Champlain Cable produced only $19.8 million as revenue and lost EBITDA of $2.2 million. Its shareholder’s equity was just $3.6 million.
However, after being acquired by the owner of AIAC affiliate, Leonard Levie, Champlain performed significantly better as it produced revenues of $21.3 million and positive EBITDA of $1.3 million. Over the following years, Champlain grew into a company with not one but five production facilities: one in Colchester VT, two in El Paso TX, and two in the greater Houston TX area. Besides, the company now works in full compliance with all relevant environmental, pension, and other obligations.
For the year 2018, Champlain made revenues of $111.6 million and EBITDA of $14.7 million, and its Shareholder’s Equity amounted to $51.6 million.
Now, under the leadership of Leonard Levie, Champlain Cable has been awarded a multi-million dollar Stadler Rail Car Project for supplying high-performance power and control cables for over 200 rail cars.
The subway cars equipped with Champlain’s high-performance cables and wires will operate across the entire MARTA network, serving more than 175,000 passengers on a typical weekend. This OEM approval is exemplary of how Leonard Levie transforms underperforming companies into successful ones that contribute to the national and regional economy.