"Wednesday July 21, 5:59 am Eastern Time
Company Press Release
NYRR Welcomes Sal Catucci as Newest Board Member
Shipping/Maritime Executive is Seen As 'Port Powerhouse' and Valuable Addition to Railroad's Governing Body
NEW YORK--(BUSINESS WIRE)--July 21, 1999--New York Regional Rail's (OTC Bulletin Board Symbol: NYRR - news) Board of Directors announced that it has passed a Resolution, by unanimous acclamation, confirming Sabato ``Sal' Catucci as NYRR's newest member of the Company's Board of Directors, replacing Arline C. Crawford, who recently resigned. ``This important appointment represents the latest in NYRR's continuing efforts to fortify and strengthen our Board, in order to deliver our Company to the next level in achieving its desired strategic and business agenda for the future,' said Robert Bentley.
A longtime, well-known and respected public figure in the Port, Maritime and Shipping Community, Sal Catucci is perhaps best known for his skilled stewardship of American Warehouse and American Stevedoring, two companies that he founded and has served as CEO, since their inception.
American Warehouse is the largest Cocoa Warehouse in the Continental U.S., with facilities located at the Red Hook Marine Terminal, 35th Street Marine Terminal and the South Brooklyn Marine Terminal. New York Cross Harbor Railroad (``NYCH') and American Warehouse together handle in excess of 65% of the total U.S. consumption of cocoa beans, used for a wide variety of chocolate products, manufactured here in the U.S.
Mr. Catucci's Warehouse and Stevedoring operations are just two examples of why this Brooklyn Business Leader has been credited with bringing new life to the Brooklyn Waterfront Economy. Employing better than 300 people for each of his operations in New York and New Jersey, Catucci has managed to provide 90% of his workforce with jobs within walking distance of their homes.
``It's all about people,' says Mr. Catucci. ``I have learned over the years that all economic development means is putting people to work, so that they may strengthen the neighborhoods and regions in which they live and raise families,' he continued. ``I hope to be able to put these same strategies to work for the benefit of New York Regional Rail's ongoing development plans,' he concluded.
American Stevedoring is recognized for its handling of a variety of breakbulk and bulk cargo, including coffee, salt, paper and steel, and was responsible for moving more than 450,000 tons of cargo during the past year alone. American Stevedoring also operates Warehouse No. 138 and No. 217 in Port Newark, New Jersey.
In addition to his many successful exploits as a domestic and international shipping executive, Mr. Catucci is a leading spokesman for Port investment and reform. In conjunction with Congressman Jerrold Nadler (D-NY), Michael Long, Chairman of the New York State Conservative Party, and the Hon. Joe DiGuardi, (former Congressman (R-NY) from Westchester), he established the New York Task Force on Port, Rail and Industrial Development, an organization designed to advocate for the need to invest in multi-modal facilities and operations on both sides of the Harbor, in order to recapture this region's once heralded status as the Premiere Port on the Atlantic Coast. He has also been an outspoken advocate for increased investment in rail and intermodal operations, particularly on the Brooklyn side of the Port.
``We are delighted to welcome Sal as a member of our Team. I am convinced that his many years of experience and vast knowledge of this Port and its unique and changing dynamics, will no doubt serve NYRR well, both in the near-term and for many years to come,' said Robert Bentley, President of NYRR.
In addition to his ownership of American Warehousing and American Stevedoring, Mr. Catucci controls and operates the following shipping and industry-related concerns, including: American Maritime Services, which is in the business of lashing, trucking and trailer inspection reports; Integrated Industries, which is in the business of storing containers and truck chassis; Garden State Intermodal, a truck chassis distributorship; CCN, a company engaged in electrical/diesel repair work for cranes, and the West Indies Nautical Company, a steamship company which ships automobiles to Haiti and the Dominican Republic. All tolled, the companies owned or operated by Mr. Catucci gross better than $100 million annually.
Along with his business pursuits, Mr. Catucci is a regular, and vocal participant at regional governmental fora addressing a wide variety of issues concerning the Port of New York and New Jersey, and future development of regional Port, Rail and Intermodal facilities on both sides of the Harbor. Most notably, he sits on the Advisory Committee of the New York City Economic Development Corporation's Cross Harbor Major Investment Study (M.I.S.).
``I am honored that the Board of Directors of New York Regional Rail Corporation, has seen fit to confer upon me this important position. I have long been a believer in NYRR's Cross Harbor Railroad, and more importantly, its future potential. I very much look forward to working with both Mr. Bentley and the Board to help realize that awesome potential in the months and years to come,' said Mr. Catucci.
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Contact:
New York Regional Rail Corp., Brooklyn, N.Y.
Gregory C. Kisloff, 718/788-3690"
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