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Rail News: M&A
Today, OmniTRAX Inc. announced it will begin leasing CSX Transportation's Fulco Branch Line near Atlanta on Saturday to serve the Fulton Industrial District.
The short-line holding company plans to immediately improve the line's infrastructure by replacing rail, installing 2,000 ties and three switches, and surfacing track. The company also will establish Fulton County Railway to operate the line; OmniTRAX has named David Lutz the railway's president and Larry Davis, director of marketing and sales.
The lease agreement will enhance service to the district's more than 40 rail shippers, expand the area's business opportunities and develop Fulton as an integrated logistics center, OmniTRAX and CSXT officials said in a prepared statement. The real estate subsidiary of OmniTRAX parent the Broe Cos. will play a role in attracting industrial development.
"We expect to invest necessary resources to increase the level of service to the park, thereby enabling Fulton's customers to confidently increase their levels of business and use of rail," said OmniTRAX Chief Operating Officer Bob Parker.
10/27/2004
Rail News: M&A
OmniTRAX to lease CSXT's Atlanta line, lead industrial development push at adjacent park
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Today, OmniTRAX Inc. announced it will begin leasing CSX Transportation's Fulco Branch Line near Atlanta on Saturday to serve the Fulton Industrial District.
The short-line holding company plans to immediately improve the line's infrastructure by replacing rail, installing 2,000 ties and three switches, and surfacing track. The company also will establish Fulton County Railway to operate the line; OmniTRAX has named David Lutz the railway's president and Larry Davis, director of marketing and sales.
The lease agreement will enhance service to the district's more than 40 rail shippers, expand the area's business opportunities and develop Fulton as an integrated logistics center, OmniTRAX and CSXT officials said in a prepared statement. The real estate subsidiary of OmniTRAX parent the Broe Cos. will play a role in attracting industrial development.
"We expect to invest necessary resources to increase the level of service to the park, thereby enabling Fulton's customers to confidently increase their levels of business and use of rail," said OmniTRAX Chief Operating Officer Bob Parker.
