RailAmerica
RailAmerica Inc. is a U.S. publicly traded company, the 42 especially Shortline railways has in 27 states in the United States and in three Canadian provinces with a total length of about 12,500 km. Headquartered in Jacksonville. The company has around 1,800 employees.
History
Rail America was founded on 31 March 1992 as a holding company for the acquisition and operation of medium and smaller railroads. The first two railway companies, under the umbrella of the holding company, were the Huron and Eastern Railway ( founded in 1986 ) and Saginaw Valley Railroad (founded in 1991).
In November 1992, RailAmerica went public and was listed on the NASDAQ. Thus, the financial opportunities for further acquisitions were created. In February 1994, followed by the South Central Tennessee Railroad, the third track. In the years 1994 and 1995, management was substantially expanded. In addition, the Company acquired the Dakota Rail in Minnesota with links to the West Texas and Lubbock Railroad in Texas.
In December 2001 it was announced that these 44 miles railway line to the Hennepin County Regional Rail Authority will be sold for $ 7.6 million. This growth continued in 1996 with the acquisition of a further three routes. The daughter of Minnesota Northern Railroad took over from the Burlington Northern Santa Fe Corporation ( BNSF ) 204 miles railway track around Crookston. Furthermore, the Otter Tail Valley Railroad was incorporated in Minnesota.
The Cascade and Columbia River Railroad operates the acquired by RailAmerica Oroville line of Burlington Northern Santa Fe Corporation.
In spring 1997, RailAmerica acquired 55 % of the 2253 km long railway Chilean Ferronor. In December 2001 RailAmerica announced that Ferronor will operate the Potrerillos Railway as of 2 January 2002. As part of this acquisition, a 15-year transportation contract was concluded with the world's largest copper producer Codelco. In February 2004, RailAmerica sold its entire shareholding in the Ferronor.
The expansion of the company sat down in August 1997 with the acquisition of the 97 -km-long St. Croix Valley Railroad from the Burlington Northern Santa Fe Railway continues. This business was Rail Americas eleventh line, the fourth in Minnesota and the third between BNSF and Rail America.
In October 1997 he was the subsidiary RailAmerica Australia PTY Ltd.. participation in the Great Southern Railway, and thus entry into the Australian market. The company was awarded the concession for the transcontinental passenger. The investment was sold to the majority owner Serco Group plc in October 1999.
1998 was purchased by CSX Transportation through Saginaw Valley Railway Company, the railway line from Saginaw to Brown City.
In August 1998, RailAmerica acquired the 21- km-long Ventura County Railroad in Oxnard ( California). In spring 1999, the company purchased by the Canadian Pacific Railway 's thirteenth track and the first in Canada, the 291 km long Esquimalt and Nanaimo Railway ( E & N) on British Columbia's Vancouver Iceland.
In April 1999, RailAmerica completed its largest international acquisition with the purchase of the Australian V / Line from the Victorian Government for $ 103 million. This regional railway company provides freight services in southeastern Australia on a rail network of 5068 km. Under the name of Freight Australia, the company is active from 1 May 1999. In August 2004, RailAmerica Freight Australia sold to the company Pacific National for 204 million U.S. dollars. From the sale proceeds of $ sixty million were used to reduce the liabilities of RailAmerica.
With the purchase of the remaining shares in Canada's third largest railway network Railink Ltd.. ended in July 1999 RailAmerica its largest ever acquisition in North America. With this acquisition, the company received access to a 4022 km system with eleven routes in Alberta, the Northwest Territories, Ontario, Quebec and New Brunswick.
On September 3, 1999 RailAmerica took over the operation of the 594 km long in East Peoria ( Illinois) -based Toledo, Peoria & Western Railroad ( TPW ) for $ 24 million, the largest ever acquisition in the company's history.
On 4 February 2000 took over RailAmerica RAILTEX, the hitherto largest short line operators in North America. The U.S. $ 325 million acquisition of expensive marked a new era in the history of the operation of such railway lines. After concluding this transaction RailAmerica was the largest operator of Short Lines and Regional railroads in the world with 39 routes and over 18,000 km of track in the U.S., Canada, Australia and Chile.
Since January 2002, RailAmerica is traded on the NYSE.
For U.S. $ 90 million was in January 2002, State Rail, another leading Shortline operators purchased. For further eight routes ( seven freight transport routes and tourism train in Hawaii) were added in eleven states with 2650 km.
Also in January 2002, the Park Sierra, operator of three short lines with 1208 km will be acquired in the western United States for $ 48 million, $ 23 million in cash and $ 25 million in shares of RailAmerica. Announced the purchase in November 2001.
In June 2003, RailAmerica acquired two more Short Lines for 22 million U.S. $. On June 1, a range of BNSF 463 km for the Alabama and Gulf Coast Railway and a 248 km route in southern Colorado by the Union Pacific Railroad, which is operated by the San Luis and Rio Grande Railroad ( SLRS ).
The company is now operating 49 railroads with 28,480 km in USA, Canada, Australia and Chile, including aid granted route rights. Due to the economic development of individual routes, which also had on the overall group effect was changed in the following years the entrepreneurial strategies. So was the 2004 sale of the Chilean and Australian companies. But even in North America began to optimize line grids.
In January 2004, the assets of the Central Michigan Railway ( CMGN ) can be purchased for $ 25.3 million U.S.. The CMGN is operated as part of the Huron & Eastern Railway. On 1 August 2004, the Chicago, Fort Wayne and Eastern Railroad ( CFE) begins operation. The CFE was created by a lease agreement with CSX Transportation. In October 2004, RailAmerica acquired by CSX Transportation 172 km long Midland Subdivision. The route will be operated as part of the Indiana & Ohio Central Railroad. In December 2004, RailAmerica sold the Arizona Eastern Railway and the West Texas and Lubbock Railroad to the Permian Basin Railways. In October 2005, the Company acquired from Alcoa four lines with a total length of 40 km in the Texas, New York and Arkansas. In December of the same year nor was the sale of the San Luis and Rio Grande Railroad to the Permian Basin Railways, and in January 2006 the Mackenzie Northern Railway, Lakeland and Waterways Railway and the Central Western Railway to the Canadian National Railway. In March 2006, the sale of the E & N Railroad was.
On 14 February 2007 the acquisition of RailAmerica by the investment company Fortress Investment Group LLC for $ 1.1 billion was made. As a result, the corporate structure has been optimized. Thus, various regional divisions were formed. Through an IPO on October 14, 2009, Fortress separated by 40 % of the shares.
In the spring of 2011, the Company of the Gulf and Ohio Railways, the Three Notch Railroad acquired, the Wiregrass Central Railroad and the Conecuh Valley Railroad. 2012 was the acquisition of Marquette Rail and a 70 % interest in the Wellsboro and Corning Railroad.
In July 2012, Genesee and Wyoming said that they will take over RailAmerica for $ 1.4 billion. With the takeover of the rail network in the United States would increase to 24,000 km. In addition, the combined company would operate over 110 railway lines. Preceded by considerations of the management of RailAmerica end of May 2012 were to put the company up for sale.
Railway companies
The table lists all the rail companies to have been acquired by RailAmerica or through its subsidiaries.