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Rail News: M&A
Iowa Interstate Railroad Ltd. (IAIS) recently reached an agreement to purchase the Great Western Railway of Iowa L.L.C. from OmniTRAX Inc. The deal will enable the 552-mile IAIS to expand its intermodal operation and increase yard capacity in Council Bluffs, Iowa, by acquiring the Great Western’s nearby terminal.
“We hope to close the transaction in June pending STB approval,” said IAIS President Dennis Miller in a prepared statement.
A terminal switching carrier, the Great Western operates 30 miles of yard and industry tracks, provides rail-car storage and repair services, and serves a transload facility and grain elevator. The short line interchanges with IAIS, BNSF Railway Co., Union Pacific Railroad and CBEC Railway Inc.
3/31/2006
Rail News: M&A
Iowa Interstate to acquire OmniTRAX's Great Western Railway of Iowa
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Iowa Interstate Railroad Ltd. (IAIS) recently reached an agreement to purchase the Great Western Railway of Iowa L.L.C. from OmniTRAX Inc. The deal will enable the 552-mile IAIS to expand its intermodal operation and increase yard capacity in Council Bluffs, Iowa, by acquiring the Great Western’s nearby terminal.
“We hope to close the transaction in June pending STB approval,” said IAIS President Dennis Miller in a prepared statement.
A terminal switching carrier, the Great Western operates 30 miles of yard and industry tracks, provides rail-car storage and repair services, and serves a transload facility and grain elevator. The short line interchanges with IAIS, BNSF Railway Co., Union Pacific Railroad and CBEC Railway Inc.
