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Part 1 : Outlook 2017: Railroad contractors see challenges, opportunities
Part 2 : Outlook 2017: Larry Laurello, Delta Railroad Construction Inc.
Part 3 : Outlook 2017: Greg Grissom, Georgetown Rail Equipment Co.
Part 4 : Outlook 2017: Bill Dorris, J-Track LLC Central Division
Part 5 : Outlook 2017: Kevin Riddett, RailWorks Corp.
Part 6 : Outlook 2017: Don Alexander, Savage
RailWorks' track businesses have clearly been impacted by the significant downturn in the Class I market in 2016. RailWorks has the advantage of an extensive North American footprint, which includes growing transit and technology businesses. As a result, we are able to leverage other markets to offset a cyclical downturn in any one of our businesses.
Our transit businesses both in the U.S and Canada should be robust for the foreseeable future, due to unprecedented public transit spending commitments and a RailWorks backlog that is at historic levels.
For 2017, we are cautiously optimistic about a recovery in the Class I market with continued record-setting opportunities in the transit market. RailWorks has some promising projects developing in our technology business HSQ Technology, in particular, involving transit communications systems.
In addition, we continue to actively look at acquisitions that will provide immediate accredited financial results and capitalize on our significant channels to market.
[For 2017,] we forecast a flat or slight decline in our railroad contracting segment for commercial/industrial, and Class I and regional railroad markets. However, we see a robust pipeline of opportunities on the transit side of our business over the next three to five years. Our focus will be to grow our market position in all of our businesses by delivering cost-competitive services and setting industry standards for quality and on-time delivery.
The safety of our employees, customers, suppliers and job-site partners remains our highest concern. We are focused on driving a safety culture of zero incidents and holding all of our stakeholders accountable. To support those goals, RailWorks is investing in new training programs and systems. We also are realigning our safety resources to better equip our employees and provide additional support in the field.
Larry Laurello, Delta Railroad Construction Inc. Greg Grissom, Georgetown Rail Equipment Inc. Bill Dorris, J-Track LLC Central Division Don Alexander, Savage