AN ATX FREIGHTER FLC GETS A FIRE WARNING ON THE L ENG DURING DSCNT AND PERFORMS AN ENG SHUTDOWN AND CONTINUES TO A LNDG; BUT DUE TO POOR TO NIL BRAKING ACTION ARE UNABLE TO STOP ON THE RWY. THEY STRIKE A VASI LIGHT TWR WITH THE R ENG AND PROP BEFORE STOPPING. NO INJURIES.

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WHILE FLYING AS COPLT ON A DSCNT TO PTK ARPT; THE L ENG FIRE WARNING ILLUMINATED. THE ENG WAS SECURED ACCORDING TO THE FIRE-IN-FLT CHKLIST. THE AVAILABLE LNDG OPTIONS WERE EVALUATED; AND IT WAS DECIDED TO LAND AT PTK IN FAVOR OF THE PREVAILING WINDS; WX; AND A 'GOOD' BRAKING ACTION RPT FROM AN LR25. WE PERFORMED A SINGLE ENG ILS APCH IN ACCORDANCE WITH THE FLT MANUAL AND COMPANY PROCS. THE RWY BECAME VISIBLE AT 400 FT AGL AND THE ACFT WAS SLOWED FOR LNDG. IT WAS CLR TO SEE WHAT LOOKED LIKE SNOW ON THE RWY. BRAKING AND REVERSE ENG PROCS WERE USED TO SLOW THE ACFT; BUT THE CONDITION OF THE RWY ONLY ALLOWED POOR TO NIL BRAKING ACTION. WHEN REVERSE WAS USED ON THE R ENG; THE ACFT VEERED TO THE R AND L BRAKE COMBINED WITH L STEERING COULD NOT HOLD THE ACFT ON THE RWY. THE CAPT ALTERNATED STEERING; BRAKES; AND REVERSE IN AN ATTEMPT TO SLOW THE ACFT. THE ACFT COULD NOT BE STOPPED AND ROLLED PAST THE END OF THE RWY AND STRUCK A VASI LIGHT BOX WITH THE R PROP. THE R ENG WAS THEN SECURED AND THE ACFT CAME TO A STOP. THE CREW SECURED THE AIRPLANE AND DEBOARDED. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: THE RPTR WAS FLYING A CV580 WHEN HE HAD A FIRE WARNING ON THE L ENG. THE FLC DECIDED TO LAND AT THEIR DEST; ALSO THE NEAREST ARPT; PTK WHEN AN LR25 THAT HAD JUST LANDED RPTED GOOD BRAKING ACTION. THE CREW WAS FURTHER ASSURED WHEN THE TWR RPTED A TEMP INCREASE TO WELL ABOVE FREEZING. HOWEVER; AS THE ACFT BROKE OUT OF THE CLOUDS; THE CREW REALIZED THAT THE RWY WAS COMPLETELY COVERED WITH PACKED SNOW. WHEN THEY ATTEMPTED TO USE EFFECTIVE REVERSE ON THE R ENG THEY ALMOST LOST DIRECTIONAL CTL. THEY WERE UNABLE TO STOP ON THE RWY SURFACE AND AFTER DEPARTING THE RWY END THE R ENG AND PROP STRUCK A VASI INSTALLATION CAUSING CONSIDERABLE DAMAGE TO BOTH NECESSITATING AN ENG AND PROP CHANGE. THE L ENG FIRE WARNING LOOP WAS FOUND TO BE FAULTY AND IT WAS CHANGED. THERE WERE NO INJURIES TO THE FLC OR OTHERS. THE FAA INVESTIGATED AND FOUND NO FAULT WITH THE FLC OR THE COMPANY.