Genesee & Wyoming Inc. (GWI) yesterday announced it completed the acquisition of Pinsly Railroad Co.’s Arkansas Division for $40 million in cash, subject to an adjustment for final working capital. The deal was announced in late November.
The acquisition includes the Arkansas Midland Railroad, which operates seven non-contiguous branch lines; Prescott & Northwestern Railroad; Warren & Saline River Railroad; and two Arkansas transload facilities operated by Pinsly’s Railroad Distribution Services subsidiary.
The short lines operate 137 miles of owned and leased track serving southwestern and southeastern Arkansas and move about 35,000 carloads per year. Pinsly Arkansas will be managed as part of GWI's Central Region, which includes six short lines in Arkansas.
GWI now owns and operates 116 regionals and short lines in the United States, Australia, Canada, Netherlands and Belgium. The railroads are organized in 11 regions, operate more than 15,000 miles of owned and leased track, employ 5,000 and serve more than 2,000 customers.
Source: Progressive Railroading Daily News
