Chicago in 1992. The CTA 3200 series and Metro-North M6 "Cosmopolitan" cars were built by MK in 1992–1994. A third site for assembling the BART C2 cars was opened in Pittsburg, California in 1993. MK also built Metra gallery cars, Amtrak Viewliner I sleeping cars, the Caltrans California Cars (1994–96) and other rail passenger cars and By 1995, Morrison–Knudsen was facing bankruptcy, with more than 60% of the company's previous-year net loss of $350 million occurring in the MK Transit division. A special purpose company, named Amerail (American Passenger Rail Car Company), was formed so that Morrison–Knudsen could divest itself of this loss-making division, while also allowing the remaining MK Transit contracts to be completed. The new company was funded by Morrison–Knudsen's creditors, led by the Fidelity and Deposit Company in Baltimore, and was headquartered in Chicago. The Pittsburg site was transferred to Adtranz in December 1995, following completion of the BART C2 cars. After this transfer, the site was used for overhaul of the older BART A and B cars. Morrison–Knudsen had also bid on this contract, but lost out to AEG Transportation Systems (who were then acquired by Daimler-Benz, becoming part of Adtranz shortly after). The Hornell site was bought by GEC-Alsthom in July 1997, following unsuccessful attempts at a joint venture to bid on new contracts. The final site in Chicago closed in mid-1998, when work on contracts for Metra was completed. Financial difficulty In 1991, MK purchased a 49% shareholding in New Zealand construction contractor McConnell Dowell. By the 1990s, Morrison–Knudsen had been led into some risky non-core areas by Boise native William Agee, who became CEO in 1988 and was ousted by the board of directors in February 1995. MK had announced a loss of $310 million for fiscal year 1994, and a leak of an intended Agee resignation drew broad media attention which resulted in Agee resigning earlier than originally The company had been in financial difficulty for several and declared bankruptcy that same It was purchased by Washington Group in 1996 for Additional growth For several years after the 1996 merger, the company continued as Morrison–Knudsen. Growth by acquisition brought it into the top tier (by size) of American construction firms. In 1999, MK acquired the government-services operations of Westinghouse Electric Company, becoming a science and technology services leader. The company expanded its market leadership in 2000 by acquiring Raytheon Engineers & Constructors,