TRAFFIC BRIEFS

TRAFFIC BRIEFS

DUTCH RAIL STRIKE

OVER PAY CLOGS ROADSAMSTERDAM, Netherlands - Rail traffic in the Netherlands came to a virtual standstill Monday as several thousand train drivers and ticket

collectors staged a 24-hour pay strike.

The already crowded Dutch motorways were clogged with traffic in the morning rush hour as hundreds of thousands of commuters switched to cars to get to work.

Dutch railways carry about 650,000 passengers a day.

The strike was called by the second-largest railway union, FSV, which represents 6,000 staff, in support of a 4 percent across-the-board pay hike proposal that was rejected by management.

KENWORTH WILL OFFER

ANTI-LOCK BRAKE SYSTEM

KIRKLAND, Wash. - Kenworth Truck Co. said it will offer a four-channel anti-lock braking system as a published option on its full line of trucks and tractors beginning June 1.

The anti-skidding system made by Robert Bosch Corp. automotive group of Broadview, Ill., has independent speed sensors in the steering axle and dominant rear axle, Kenworth said.

The four-channel system was chosen because of its superior performance and affordable price compared with two- and six-channel systems, said Ed Wallace, Kenworth assistant general manager for sales, marketing and service.

CIRCLE EXPRESS MAPS

MAJOR RESTRUCTURING

INDIANAPOLIS - Circle Express Inc., parent of five truckload motor carriers, will undergo a $72 million financial restructuring.

Circle said holders of 75 percent of its 13.5 percent senior subordinated debentures have agreed to swap the bonds for common stock.

This gives them 82 percent of the carrier's shares on a diluted basis or 3 percent on a fully diluted basis. The bonds, worth $46.5 million, are due in 1997.

Circle said its banks will renew a revolving credit line, maturing in September, for 18 months. Circle has borrowed $19.6 million on the credit line and paid back $10 million.

Separately, Circle said it expects its 1989 year-end loss to widen to $39.6 million on sales of $210 million, up from a 1988 loss of $21.6 million on revenue of $229 million.

Circle senior management changed last April when it hired a management services firm to turn the company around. The restructuring affects only the parent company, said Alfred J. Fasola Jr., Circle's president and chief executive officer.