School Bus Contractors

STA wins three New England contracts

Posted on June 5, 2008

TORONTO — Student Transportation of America Ltd. (STA) has been awarded new contracts with the Danbury and Guilford school districts in Connecticut, plus a new five-year contract in Milton, Vt.

The two five-year Connecticut contracts, commencing this July, will generate approximately $7 million in revenue per year and include provisions for the school districts to provide 100 percent of the fuel required. The Vermont contract includes a fuel cap.

In addition to the two Connecticut contracts, STA announced in March it had been awarded a five-year contract totaling $8.4 million over the term by the Kearsarge Regional School District in New Hampshire, which also included a provision for the school district to provide 100 percent of the fuel beginning this July.

STA Chairman and CEO Denis Gallagher said that all the new contracts eliminate the uncertainty of fuel costs, which has been a strategic objective for the company.

Gallagher also said approximately 97 percent of STA’s existing contracts up for renewal this year have been renewed so far, and that the company is renegotiating existing fuel protection agreements as well as obtaining additional rate increases to offset higher fuel costs in some contracts without such clauses.

 

Related Topics: Student Transportation of America

Comments ( 0 )
More Stories
A revision to federal regulations that would make more workers eligible for overtime pay was slated to go into effect on Dec. 1, but a federal judge has granted a nationwide preliminary injunction. Photo by Barry Johnson
News

Court Puts New Overtime Rule on Hold

A revision to federal regulations that would make more workers eligible for overtime pay was slated to go into effect on Dec. 1, but a federal judge has granted a nationwide preliminary injunction.

Photo by Barry Johnson
Article

6 Ways to Address New Overtime Rules

Update: On Nov. 22, a federal judge granted a nationwide preliminary injunction against the Department of Labor’s new overtime rule, which means that it will not go into effect on Dec. 1 as scheduled, and as discussed in this article.

Be the First to Know

Get the latest news and most popular articles from SBF delivered straight to your inbox. Stay on top of the school bus industry and don't miss a thing!