CSX Corporation
The CSX Corporation is a U.S. based company with headquarters in Jacksonville. The company is listed on the stock index S & P 500.
Significant subsidiaries is the railway company CSX Transportation. The Group includes more investments in the freight forwarding industry. Hotel The Greenbrier in White Sulphur Springs was until 2009 part of the company.
History
The company was founded on 1 November 1980, when Seaboard Coast Line Industries Inc. ( mother of Seaboard Coast Line Railroad ) and Chessie System Inc. merged.
With this merger, a large portfolio of non- railway- company was formed. From Seaboard were " Cybernetics & Systems ", " Florida Publishing Company ," " Clay video" and "Area Communications " and of Chessie System " Chessie Resources ", " The New River Company ," " The Green Briar " and " Beckett Aviation Corporation " introduced.
In the following years they began to organize or repel the various activities. Thus, an attempt was made to compensate for the loss-making business in the railway sector through investment in the energy sector. In 1982, sales of " Area Communications " at Demtree and 1983, the merger with the " Texas Gas Resources Corporation " ( TXG ). As a result, it came also to the control of the river shipping company " American Commercial Lines". In the same year the railroad ferries were sold on Lake Michigan at the Michigan - Wisconsin Transportation.
1985, " Beckett Aviation Corporation " was sold. 1986 saw the acquisition of the hotel group " RockResorts " by Laurance S. Rockefeller, and participation in the gas pipeline company " Yukon Pacific Corporation ". In the same year " CSX Minerals" and the " New River Company" were sold to the " Quintana Minerals Corp. ".
In 1987, there comes the merger with Sea-Land Corporation. In the result, a joint venture was established for container transport on land and water CSX / Sea-Land Intermodal and Logistics. The company was able from now worldwide offer container services to and from the USA under one roof.
The CSX Oil & Gas was sold in 1988 to Total Minatome, and participation in Yukon Pacific is further increased. As part of ongoing corporate strategy began in the following years again to focus on the transport business and began selling " RockResorts " to " VMS Realty Partners ," " Texas Gas Transmission " ( TXG ) to the Transco Energy Company and " CSX Energy " at Enron.
As of 1991, the reorientation began in container freight business. A first step was the participation of "Ready City Ltd ". to " Sea-Land Orient Terminals Ltd. ", the container terminal in Hong Kong. " CSX / Sea-Land Logistics" has been restructured to " CSX Logistic " in 1992. A year later, the logistics company "Customized Transportation Inc." (CTI ), and later "CTI Logistx " taken over.
1998 " CSX Integrated Services " to " Bridgepoint ". 1999 Sea- Land fleet overseas for $ 800 million was sold to AP Møller Mærsk -. The remaining domestic fleet was renamed to " CSX Lines" and the container ports to " CSX World Terminals". 2000 "CTI Logistx " on TNT N.V. sold. 2003, the Chairman and CEO John W. Snow was Treasury Secretary under George W. Bush.
2003, the corporate headquarters of Richmond (Virginia) was relocated to Jacksonville. In the same year CSX and The Carlyle Group formed a new company " Horizon Lines " in the aufgingen the " CSX Lines". In 2004, this investment was sold. Finally, in 2005 the port division " CSX World Terminals" was sold for $ 1.142 billion to Dubai Ports International.
After the Greenbrier Hotel makes continuous losses, it was conducted in 2009 into bankruptcy and sold to the entrepreneur Jim Justice.