Midwest & Bluegrass Rail acquires four short lines (9/8/2020)
9/8/2022Midwest & Bluegrass Rail LLC late last week announced it finalized the purchase of Camp Chase Railway, Chesapeake and Indiana Railroad, Vermilion Valley Railroad and Youngstown and Southeastern Railroad from Indiana Boxcar Corp.
The four short lines operate a combined 105 miles of branch line and industrial track and haul a wide range of commodities, including agricultural products, fertilizer, recyclables and construction-related materials.
The acquisition will add to Midwest & Bluegrass Rail’s growing portfolio of rail, logistics assets and operations, company officials said in a press release. Midwest & Bluegrass Rail plans to continue to pursuing economic development and transload opportunities.
“[We are] proud to welcome this group of four short line railroads to our expanding footprint," said Midwest & Bluegrass Rail Chief Commercial Officer Dustin Shaver, "We are excited to … usher in even more opportunities for customers and communities along the rail lines.”
Formed in 2019 as a full-service rail company, Midwest & Bluegrass Rail is focused on identifying, acquiring, marketing, developing and operating railroads across the United States.
A commitment to customers, employees and communities will lead to traffic growth on the four short lines, which were faced with low traffic density or abandonment, said Midwest & Bluegrass Rail Chief Operating Officer Brian Miller.
“[We] believe the acquisition helps position the company for additional growth opportunities in the Eastern U.S.,” he said.
Now exiting the short-line business, Indiana Boxcar plans to focus on its locomotive and freight-car leasing business.
Source: Progressive Railroading Daily News