Weyerhaeuser to Sell Short Line Railroads, Including Two in Washington
Each of the railroads interchange traffic with Class I carriers. The railroads primarily source Weyerhaeuser and International Paper mills, move finished products and serve some third-party customers. The railroads employ approximately 120 people.
“Once the transaction is completed, these railroads will double the rail portfolio of Patriot Rail,” said Gary O. Marino, Chairman, President & CEO of Patriot Rail. “They are very attractive railroads with appealing growth opportunities and are a key step in our company’s strategic growth process. After closing and integration of the railroads, Patriot Rail’s goal is to expand the rail business by providing customers with first class rail service focused on safety, productivity and service reliability.”
Patriot Rail Corp. is a short line and regional freight railroad holding company based in Boca Raton, Florida. The Company owns and operates six short line freight railroads comprising 331 total rail miles in eight states. In addition, Patriot recently signed an agreement to lease and operate the 13-mile Piedmont & Northern Railroad in Gaston County, North Carolina. For more information on Patriot Rail Corp. visit us at www.patriotrail.com.