Short Line/Regional – Page 12

L. B. Foster Company to Acquire Portec Rail Products

February 17, 2010 Railfanning.org News Wire

PITTSBURGH — L. B. Foster Co. and Portec Rail Products Inc. announced the signing of an Agreement and Plan of Merger, under which L. B. Foster will make, through its wholly owned acquisition subsidiary, a cash tender offer to acquire all of Portec’s outstanding shares of common stock for $11.71 per share. “The proposed acquisition will bring together two organizations with a rich history of successfully delivering products and services to the global rail industry,” said Stan Hasselbusch, L . B. Foster’s President and Chief Executive Officer. “The addition of Portec will complement our existing array of products and furthers

Genesee & Wyoming Inc. and Consolidated Thompson Iron Mines Limited Sign Rail Services Agreement

February 16, 2010 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. said that GWI and a newly formed GWI subsidiary, Western Labrador Rail Services (WLRS), have entered into a long term agreement with Bloom Lake Railway Company (BLRC), a subsidiary of Consolidated Thompson Iron Mines Limited (CLM), for WLRS to provide rail transportation services to BLRC. Operated as part of GWI’s Canada Region, WLRS will haul unit trains of iron ore over BLRC’s newly constructed 31-kilometer railway from CLM’s Bloom Lake mine, located in the province of Quebec on the south end of the Labrador Trough, to Wabush, Labrador. The iron ore will then travel

Illinois Railroads Ordered to Compensate Employee Fired for Reporting Work-Related injury

February 12, 2010 Railfanning.org News Wire

KANSAS CITY — The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has ordered the Illinois Central Railroad Co. and the Chicago, Central & Pacific Railroad, both headquartered in Homewood, Ill., to pay a former railroad employee more than $80,000 in back wages, compensatory damages and attorney’s fees. OSHA investigated the employee’s allegation that the railroads terminated his employment in retaliation for reporting a work-related injury he sustained while performing his job. OSHA’s investigation found that officials from both railroads ordered an investigation into the cause of the employee’s injury, which ultimately resulted in their decision to terminate

Genesee & Wyoming Reports Results for the Fourth Quarter of 2009

February 8, 2010 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. reported net income in the fourth quarter of 2009 of $18.3 million, compared with net income of $25.3 million in the fourth quarter of 2008. GWI’s diluted earnings per share (EPS) in the fourth quarter of 2009 were $0.44 with 41.3 million weighted average shares outstanding, compared with diluted EPS of $0.70 with 36.4 million weighted average shares outstanding in the fourth quarter of 2008. GWI’s results for the fourth quarter of 2009 included gains on the sale of assets of $0.8 million ($0.5 million after-tax, or $0.01 per diluted share). Fourth quarter

STB Grants ARRC Permission to Build 80-Mile Extension

January 6, 2010 Railfanning.org News Wire

WASHINGTON — The Surface Transportation Board announced it has granted the request of the Alaska Railroad Corp. (ARRC, a state-owned railroad) to construct and operate a new, 80-mile railroad line—the Northern Rail Extension—in the State of Alaska, subject to extensive environmental-mitigation conditions. After considering the entire public record before it, including both the transportation aspects of ARRC’s proposal and potential environmental issues, the Board was satisfied that the proposed line would provide reliable, year-round freight and passenger service to the region south of North Pole, Alaska; access to training areas used by the United States military; and an alternative to

DOT Announces $7 Million for Bridge Repair

December 5, 2009 Railfanning.org News Wire

WASHINGTON — The Cedar Rapids and Iowa City Railway Company (CRANDIC) will receive $6.965 million from the U.S. Department of Transportation for repair of the CRANDIC railroad bridge in Cedar Rapids, U.S. Transportation Secretary Ray LaHood announced. The bridge sustained substantial damage during flooding of the Cedar River in 2008, resulting in the disruption of freight shipments in the area. “The people of Cedar Rapids depend on railroads to deliver the goods and supplies that are so critical to the local economy,” U.S. Transportation Secretary Ray LaHood said. “We are pleased that this grant will help get the city’s rail

Adrian & Blissfield Rail Road to Move Headquarters to Blissfield

November 24, 2009 Railfanning.org News Wire

BLISSFIELD, Mich. — Adrian & Blissfield Rail Road, a Michigan based company which operates a number of freight and dinner train companies in Southeastern Michigan including the Old Road Blissfield Dinner Train, the oldest operating dinner train in the U.S., plus the Old Road Dinner Train Charlotte, will move its headquarters from Westland, Mich., to Blissfield in 2010. Mark Dobronsky, A&B RR president, announced the new headquarters which is being relocated from Westland, where the A&B RR leased space. The A&BRR will move to 124 Railroad Street, Blissfield, about 30 minutes south of Ann Arbor and 20 minutes north of

Railmark Sells Michigan Railroad

November 18, 2009 Railfanning.org News Wire

WALLED LAKE, Mich. — Railmark Holdings announced that it sold its Michigan Air-Line Railway Co. to Nebraska-based Browner Turnout Co. The Oakland County Michigan railroad serves the communities of West Bloomfield, Commerce Township, Walled Lake and Wixom and is the home of the iconic Star Clipper Dinner Train, the first dinner train in North America, now in its 25th season. Browner Turnout Co. becomes the fifth owner of the rail line in 123 years. The price and terms of the sale are not being disclosed by the Company, however, Railmark is using the transaction to eliminate its long-term debt, redeem

BNSF Honors Three Shortline Railroads for Partnership Excellence

November 17, 2009 Railfanning.org News Wire

FORT WORTH, Texas — BNSF Railway Co. recognized three shortline railroads for their tremendous success and partnership over the past year with a BNSF Shortline Achievement Award at this year’s 14th Annual Shortline Conference on Oct. 19, 2009 in Fort Worth, Texas. The Plainsman Switching Company (PSC), Yellowstone Valley Railroad (YSVR), and Burlington Junction Railway (BJRY) were chosen because of their ability to increase the volume and development of new customers and for being good stewards in their communities. “BNSF is proud to recognize these three shortline railroads,” said Pete Rickershauser, BNSF vice president, Network Development. “Each shortline has greatly

CN Growing ‘Green’ Wood Pellet Traffic at Double-Digit Rates

November 5, 2009 Railfanning.org News Wire

MONTREAL — North America’s largest mover of forest products is on track to haul more than 800,000 tons of wood pellets this year and sees more opportunities in the future for this “green” source of heating energy, CN officials said. “Since 2005, we have experienced a 16 percent compounded annual growth in our wood pellet traffic, and we see growing potential for this business in domestic and international markets,” said James Foote, executive vice-president, Sales and Marketing. “Wood pellets are a renewable resource, right in our backyard,” Foote added. “Our network has direct access to wood pellet production areas and