(Canadian Pacific Railway issued the following news release on May 2.)
MINNEAPOLIS — Canadian Pacific Railway announced today it is pursuing expressions of interest from third parties for its 92.3-mile track from Fayette to Bedford, Indiana, known as the Latta Subdivision. The company is examining all opportunities to improve rail service in southern Indiana and the Louisville, Kentucky, market for the benefit of CPR and its shippers.
A range of outcomes is possible, including new operating arrangements with other railroads or the sale of the rail line to another operator. Abandonment of the line is not being considered, as sufficient business exists on the rail line to support ongoing operations. A decision on the course of action is expected by the end of the year.
“CPR is initiating a process to identify all opportunities to retain and enhance the economic value of this rail line. CPR has undertaken similar reviews at other points on our network that have resulted in positive outcomes for shippers, employees and other stakeholders in the region,” said Dave Craig, general manager business development for CPR.
The Latta Subdivision is an attractive and viable operation due to its connections and interchanges with four shortline railroads and two Class I railroads, the Norfolk Southern and CSX. The four shortlines are the Indiana Rail Road Co., Indiana Southern Railroad Inc., Louisville & Indiana Railroad Co. and Paducah & Louisville Railway Inc.
Canadian Pacific Railway has about 90 employees in southern Indiana, with most working out of terminals at Jasonville and Terre Haute.
To reach CPR’s southern Indiana line from Chicago and Louisville, Kentucky, its trains travel over the CSX. Traffic on the CPR line consists primarily of coal, coke and potash.
Canadian Pacific Railway is a transcontinental carrier operating in Canada and the U.S. Its 14,000-mile rail network serves the principal centers of Canada from Montreal to Vancouver, and the U.S. Northeast and Midwest regions. CPR feeds directly into America’s heartland from the East and West coasts. Alliances with other carriers extend its market reach throughout the U.S. and into Mexico. Canadian Pacific Logistics Solutions provides logistics and supply chain expertise worldwide. For more information, visit CPR’s Website at http://www.cpr.ca .