Genesee & Wyoming Inc GWR:NYSE

Last Price$110.41NYSE Previous Close - Last Trade as of 6:30PM ET 9/20/19
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Genesee & Wyoming Subsidiaries Lease 2 Railroads, Create 400 Miles of Contiguous Lines from Indiana to Illinois

2:20PM ET 3/22/2019 MT Newswires
Genesee & Wyoming (GWR) said Friday that its Toledo, Peoria & Western Railway and Central Railroad Company of Indianapolis subsidiaries have entered long-term agreements to lease and operate the Winamac Southern Railway and Kokomo Railroad, respectively, which together represent 57 miles of track in Indiana.

TPW and CERA are expected to handle about 5,000 carloads per year over the new lines, which will primarily consist of agricultural products, chemicals and plastics and metals, and of which about 3,000 carloads are currently interchanged with CERA.

WSRY and KR also share common ownership with Kokomo Grain, a large customer of WSRY and the only customer of KR.

Combined with G&W's Illinois & Midland Railroad and Tazewell & Peoria Railroad, the new leases create a contiguous 400-mile, four-railroad footprint from Eastern Indiana to Western Illinois, with connections to six Class I railroads.

Price: 85.44, Change: -1.59, Percent Change: -1.83