(The Associated Press circulated the following on September 19.)
NEW YORK — Railroad operator Kansas City Southern said Friday its Mexican subsidiary plans to contest a court ruling that would give another Mexican railroad primary rights to operate on some of its tracks.
In a filing with the Securities and Exchange Commission, Kansas City Southern said the Mexico Administrative Federal Court ruling this week would allow Ferrocarril Mexicano SA de CV (Ferromex) to operate on certain of its rail lines in Monterrey, Mexico that were not mentioned in its original track plans.
Kansas City Southern said it believes “the decision conflicts with current applicable law” and has asked a Mexican court to review the case.
Kansas City Southern’s Mexican subsidiary and Ferromex are already involved in several civil cases regarding other track rights.
Shares of Kansas City Southern jumped $2.93, or 6.1 percent, to $51.05 in morning trading.