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Genesee & Wyoming Completes Acquisition of Pinsly Arkansas Railroads

Monday, January 5, 2015 4:01 pm EST

Dateline:

DARIEN, Conn.

Public Company Information:

NYSE:
GWR
US3715591059

DARIEN, Conn.--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) announced today that it has completed the acquisition of Pinsly Railroad Company’s Arkansas Division (“Pinsly Arkansas”) for approximately $40 million in cash, subject to adjustment for final working capital.

Pinsly Arkansas includes (i) the Arkansas Midland Railroad (AKMD), which is comprised of seven non-contiguous branch lines, (ii) the Prescott & Northwestern Railroad (PNW), (iii) the Warren & Saline River Railroad (WSR), and (iv) the two Arkansas transload operations of Pinsly’s Railroad Distribution Services subsidiary. The railroads operate over 137 miles of owned and leased track serving the Hot Springs and Little Rock areas, as well as the southwestern and southeastern portions of the state, and currently haul approximately 35,000 carloads per year.

About G&W

G&W owns short line and regional freight railroads in the United States, Australia, Canada, the Netherlands and Belgium. In addition, G&W Australia operates the 1,400-mile Tarcoola to Darwin rail line, which links the Port of Darwin with the interstate rail network in South Australia. Operations currently include 116 railroads organized in 11 regions, with more than 15,000 miles of owned and leased track, 5,000 employees and over 2,000 customers. G&W subsidiaries provide rail service at 37 ports in North America, Australia and Europe and perform contract coal loading and railcar switching for industrial customers.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Genesee & Wyoming's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

 

Contact:

Genesee & Wyoming Inc.
Michael Williams, 1-203-202-8916
G&W Corporate Communications
http://www.gwrr.com

NYSE: GWR