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Rail News: M&A
Wanted: Third-party firm interested in helping Canadian Pacific Railway improve rail service in southern Indiana and Louisville, Ky. Today, CPR announced it’s soliciting “expressions of interest” from third parties for a 92.3-mile line between Fayette and Bedford, Ind., which comprises the Class I’s Latta Subdivision.
CPR officials are interested in developing an operator agreement with other railroads or selling the line to another party. However, the Class I will not abandon the line because “sufficient business exists to support ongoing operations,” according to a prepared statement. CPR officials expect to arrange a deal by year end.
“CPR has undertaken similar reviews at other points on our network that have resulted in positive outcomes for shippers, employees and other stakeholders in the region," said Dave Craig, CPR general manager of business development, in a prepared statement.
Norfolk Southern Railway, CSX Transportation, Indiana Rail Road Co., Indiana Southern Railroad Inc., Louisville & Indiana Railroad Co., and Paducah & Louisville Railway Inc. interchange at points along the line. CPR primarily moves coal, coke and potash on the line.
5/2/2005
Rail News: M&A
CPR seeks new operator or buyer for southern Indiana line
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Wanted: Third-party firm interested in helping Canadian Pacific Railway improve rail service in southern Indiana and Louisville, Ky. Today, CPR announced it’s soliciting “expressions of interest” from third parties for a 92.3-mile line between Fayette and Bedford, Ind., which comprises the Class I’s Latta Subdivision.
CPR officials are interested in developing an operator agreement with other railroads or selling the line to another party. However, the Class I will not abandon the line because “sufficient business exists to support ongoing operations,” according to a prepared statement. CPR officials expect to arrange a deal by year end.
“CPR has undertaken similar reviews at other points on our network that have resulted in positive outcomes for shippers, employees and other stakeholders in the region," said Dave Craig, CPR general manager of business development, in a prepared statement.
Norfolk Southern Railway, CSX Transportation, Indiana Rail Road Co., Indiana Southern Railroad Inc., Louisville & Indiana Railroad Co., and Paducah & Louisville Railway Inc. interchange at points along the line. CPR primarily moves coal, coke and potash on the line.
