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Rail News: M&A
The Watco Cos. Inc. is delving a bit deeper into the freight-car repair business. The short line holding company recently acquired Millennium Rail Inc.’s car repair, maintenance and fleet management operations.
Operator of eight car shops located in Illinois, Iowa, Kansas, Louisiana, Pennsylvania and Texas, Millennium Rail will become a Watco subsidiary. Millennium Rail’s tank-car repair capabilities drew Watco officials’ interest.
“We always want to provide our customers with the right car, at the right time, in the right condition and at the right price,” said Watco Chief Executive Officer Rick Webb in a prepared statement. “Car repair was one of our founding businesses, starting with our car repair shop in Coffeyville (Kansas) in 1985.”
Watco owns 16 short lines operating in 14 states, and provides industrial switching, and car and locomotive repair services.
5/2/2007
Rail News: M&A
Watco acquires Millennium Rail's freight-car repair operations
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The Watco Cos. Inc. is delving a bit deeper into the freight-car repair business. The short line holding company recently acquired Millennium Rail Inc.’s car repair, maintenance and fleet management operations.
Operator of eight car shops located in Illinois, Iowa, Kansas, Louisiana, Pennsylvania and Texas, Millennium Rail will become a Watco subsidiary. Millennium Rail’s tank-car repair capabilities drew Watco officials’ interest.
“We always want to provide our customers with the right car, at the right time, in the right condition and at the right price,” said Watco Chief Executive Officer Rick Webb in a prepared statement. “Car repair was one of our founding businesses, starting with our car repair shop in Coffeyville (Kansas) in 1985.”
Watco owns 16 short lines operating in 14 states, and provides industrial switching, and car and locomotive repair services.
