Watco to acquire Great Lakes Central Railroad

Watco  has agreed to acquire the Great Lakes Central Railroad (GLC), a 400-mile regional railroad in Michigan.

The holding company has been an equity investor in the GLC since 2013. The purchase agreement will support the services already offered in Michigan by Watco's Grand Elk and Ann Arbor railroads, Watco officials said in a press release.

Watco will begin operating the railroad after it receives approval from Surface Transportation Board. Financial details of the agreement were not disclosed.

GLC lines run north from Ann Arbor to Cadillac, with branches to Thompsonville, Traverse City and Petosky. It interchanges with CSX, Mid-Michigan Railroad, Huron and Eastern Railway, CN and Watco's Ann Arbor Railroad, which connects to Norfolk Southern Railway. Commodities transported by GLC include soybeans, corn, fertilizers and plastics.

"With Watco as a longtime partner since 2013, we are confident they will honor the legacy we have built while continuing to serve Michigan’s industries and communities with the same dedication and excellence,” said GLC President and CEO Jennifer Ferris.

GLC would become Watco’s 47th short line.