GREENWICH, Conn. — Genesee & Wyoming Inc. has completed its acquisition of 10 short line railroads known as the Ohio Central Railroad System (OCR) for $234.3 million in cash, subject to adjustment for final working capital.
The cash purchase price includes $7.5 million of contingent consideration that GWI has placed into escrow, which will be paid […]

GREENWICH, Conn. — Genesee & Wyoming Inc. has acquired the Georgia Southwestern Railroad, Inc. for cash consideration of approximately $16.5 million and the assumption of $5.4 million in debt, subject to adjustment for final working capital.
Headquartered in Dawson, Ga., the Georgia Southwestern operates over 220 miles of track between White Oak, Ala., and Smithville, Ga.; […]

WASHINGTON — The Surface Transportation Board approved Canadian Pacific Railway Limited’s plan to buy the Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American Rail Holdings.
The official effective date of the final decision is Oct. 30.
“The DM&E is an excellent fit for Canadian Pacific making this a […]

WASHINGTON — The House of Representatives has approved legislation that proponents say will improve the Nation’s intercity passenger rail system and the safety of the nation’s railroads.
The Rail Safety Improvement Act of 2008 and the Passenger Rail Investment and Improvement Act of 2008 will increase funding for Amtrak over the next five years, require new […]

WASHINGTON –  Freight traffic on U.S. railroads was off sharply during the week ended September 20 in comparison with the same week last year, the Association of American Railroads (AAR) reported. Much of the decline can be attributed to disruptions caused by Hurricane Ike which struck the Gulf Coast Sept. 13.
Total volume was estimated at […]

GREENWICH, Conn. — Genesee & Wyoming Inc. said that Hurricane Ike is not expected to have a material impact on its financial results in the third quarter of 2008.
GWI’s subsidiary, Galveston Railroad, provides rail service at the Port of Galveston, which was directly struck by Hurricane Ike. Galveston Railroad’s equipment and property did not sustain […]

WASHINGTON — The Buffalo & Pittsburgh Railroad (BPRR) is receiving a $245,000 from the Federal Railroad Administration (FRA) for a railroad bridge replacement project located between Karns City and Bruin, Penn.
The Chicora Bridge project will replace a 13-foot deteriorating wood pile bridge with a new concrete box culvert that will increase the capacity of the […]

WASHINGTON — The Federal Railroad Administration (FRA) is awarding two grants to the New England Central Railroad (NECR).
The railroad will receive $960,000 with the NECR is providing $240,000 in matching funds for structural repairs to a 1860s vintage rail tunnel located in Burlington, Vt.
The repairs include removing old brick, installing tunnel liner, and improving drainage […]

WASHINGTON — The Federal Railroad Administration (FRA) is awarding a $100,000 grant to the Buffalo & Pittsburgh Railroad that will be used to replace approximately 1,625 cross ties along a 25-mile segment of track between Cloe and Creekside, Penn.
These funds will supplement a larger ongoing rehabilitation project to upgrade this line with safety improvements that […]

GUTTENBERG, Iowa – A mudslide caused four locomotives to derail and crash into the Mississippi following, authorities said.
The locomotives were pulling and Iowa, Chicago & Eastern Railroad freight train at the time of the derailment.
“Early reports indicate that a large boulder and embankment slide occurred in the area of the derailment,” the railroad said in […]