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BC Rail Ltd. recently announced plans to sell Finlay Navigation, its inland marine transportation arm, and contracted investment banking firm Forum Capital Partners to serve as the transaction's financial advisor.
"Finlay Navigation is not a core operation and does not fit into the railway's long-term plans for restoring the company to financial health," said BC Rail President and Chief Executive Officer Bob Phillips in a prepared statement.
Finlay Navigation provides ferry and barging services to the forest industry.
BC Rail also plans to sell its BC Marine terminal operations at the Port of Vancouver, and is contemplating plans to lease or sell 250 track miles between Fort St. John and Fort Nelson, British Columbia.
OmniTRAX Inc. officials are analyzing the railway's BC Marine divestment and would consider pursuing the track deal if BC Rail officials decide to rationalize freight operations, says spokeswoman Genevieve Young.
The track appeals to OmniTRAX officials because the company in the past has revitalized under-utilized assets, and operated trains in difficult and remote terrain that's similar to BC Rail's line.
— Jeff Stagl
11/4/2002
Rail News: Rail Industry Trends
BC Rail set to sell inland marine subsidiary, mulls line sale or lease
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BC Rail Ltd. recently announced plans to sell Finlay Navigation, its inland marine transportation arm, and contracted investment banking firm Forum Capital Partners to serve as the transaction's financial advisor.
"Finlay Navigation is not a core operation and does not fit into the railway's long-term plans for restoring the company to financial health," said BC Rail President and Chief Executive Officer Bob Phillips in a prepared statement.
Finlay Navigation provides ferry and barging services to the forest industry.
BC Rail also plans to sell its BC Marine terminal operations at the Port of Vancouver, and is contemplating plans to lease or sell 250 track miles between Fort St. John and Fort Nelson, British Columbia.
OmniTRAX Inc. officials are analyzing the railway's BC Marine divestment and would consider pursuing the track deal if BC Rail officials decide to rationalize freight operations, says spokeswoman Genevieve Young.
The track appeals to OmniTRAX officials because the company in the past has revitalized under-utilized assets, and operated trains in difficult and remote terrain that's similar to BC Rail's line.
— Jeff Stagl
