PITTSBURGH – Pittsburgh Transportation Group got its holiday wish to be sold to Veolia Transportation, an international transport operator.
The Pennsylvania Public Utility Commission approved the sale during its Dec. 18 meeting, allowing the area’s largest privately held passenger firm to become a part of the continent’s largest private transportation company.
Pittsburgh Transportation Group President and CEO James Campolongo said the shift will yield no losses in jobs or benefits, and will in fact allow the company to expand, hiring and promoting more employees.
“We will be able to move more quickly expanding our vehicle fleet, adding services and in installing additional technology throughout our system,” he said in a press release.
Campolongo agreed to a five-year contract with Veolia to continue in his current role.
With revenue around $24 million in 2007, the Pittsburgh transport company includes Yellow Cab, Checker Cab, Peoples Cab, Embassy Coach/Limousine Service, Express Shuttle, PTG Charter Service, Freedom Coach, and Star Paratransit.
The firm employs more than 750, including independent contractors, and operates a fleet of more than 600 vehicles.
Veolia Transportation is part of Veolia Environment, a Paris-based transportation service provider with annual revenue of $5 billion.
Source: Pittsburgh Business Times