(Genesee & Wyoming issued the following news release on August 30.)
GREENWICH, Conn. — Genesee & Wyoming Inc. (GWI) announced today that its subsidiary, Golden Isles Terminal Railroad Inc. (GITM), has acquired the Savannah Wharf Branch rail line located in Savannah, Georgia, from CSX Corporation’s (NYSE: CSX – News) subsidiary, CSX Transportation, Inc. The transaction includes the acquisition of 6.5 miles of track and related assets and a twenty year lease of the related real estate along the rail line. The Savannah Wharf Branch is expected to switch approximately 4,500 cars on an annual basis.
GITM is operated by GWI’s Rail Link subsidiary, which has two existing operations in the Savannah area, an intermodal facility and the railroad serving the Georgia Port Authority. Headquartered in Jacksonville, Florida, Rail Link serves 28 industrial sites in 11 states and operates 10 shortline railroads.
GWI is a leading operator of short line and regional freight railroads in the United States, Canada, Mexico, Australia and Bolivia. The Company operates in five countries on three continents over approximately 8,100 miles of owned, jointly owned or leased track. It also operates over more than 3,000 additional miles under track access arrangements.