John Harrison Marino Sr., 1939-2015
John Harrison Marino Sr., 76, career railroader, professional engineer and co-founder of RailAmerica, died May 19, 2015, at home.
Genesee and Wyoming
Siskiyou rail line set to reopen
Construction is under way on the first of three phases to upgrade the CORP (Central Oregon & Pacific) Siskiyou rail line; work will begin this spring and summer to reopen the 95-mile line between Ashland, Ore. and Weed, Calif. The 389-mile CORP is a Genesee & Wyoming subsidiary.
G&W concludes Freightliner acquisition
Genesee & Wyoming Inc. on March 25, 2015 completed the acquisition of approximately 94% of Britain’s Freightliner Group Ltd. for approximately US$733 million (at current exchange rates), plus the assumption of approximately US$29 million (at current exchange rates) of net debt and capitalized leases.
Genesee & Wyoming to acquire Freightliner
Darien, Conn.-based Genesee & Wyoming announced Tuesday, Feb. 24, 2015, that it has agreed to acquire a 95% stake in Britain’s Freightliner Group from Arcapita and other shareholders for $755 million in cash.
Good fourth-quarter numbers for G&W
Genesee & Wyoming Inc. on Tuesday, Feb. 10, 2015 reported improved fourth-quarter earnings and revenue, helping the company’s full-year results recover from what it called a “slow start to 2014 due to severe winter weather.”
GWI acquires Arkansas short lines
Genesee & Wyoming Inc. (GWI) late Wednesday, Nov. 19, 2014 announced it “has signed an agreement with Pinsly Railroad Company of Westfield, Mass., to acquire certain subsidiaries that constitute Pinsly’s Arkansas Division (‘Pinsly Arkansas’) for $40 million in cash, subject to adjustment for final working capital.”
GWI 3Q earnings and revenue rise
Darien, Conn.-based Genesee & Wyoming, Inc. on Friday, Oct. 31, 2014 reported third-quarter net income of $72.9 million, compared with net income of $66.2 million in the third quarter of 2013. Excluding the net impact of certain significant items discussed below, G&W’s adjusted net income in the third quarter of 2014 was $69.3 million, compared with adjusted net income of $59.8 million in the third quarter of 2013.
Genesee & Wyoming notches record 2Q traffic
Genesee & Wyoming, Inc. said Monday, July 14, 2014 its second-quarter traffic rose 6.0% measured against the comparable quarter in 2013. Same-railroad traffic was up 5.0% for the quarter.
Newest GWI short line debuts
Genesee & Wyoming Inc.’s newest rail subsidiary, Rapid City, Pierre & Eastern Railroad, Inc. (RCP&E), began operations Sunday, June 1, 2014, as Canadian Pacific completed the sale of the line, the western stretch of the Dakota, Minnesota & Eastern.
Room for more freight in San Diego?
San Diego’s potential is huge, provided the region’s short lines and port can secure critical state and local funding.