{"id":22647,"date":"2024-10-17T21:40:51","date_gmt":"2024-10-17T21:40:51","guid":{"rendered":"https:\/\/allonlinebanglanewspapers.com\/news\/stb-approves-transaction-that-creates-new-cpkc-csx-class-i-connection-linking-mexico-texas-and-the-u-s-southeast\/"},"modified":"2024-10-17T21:40:51","modified_gmt":"2024-10-17T21:40:51","slug":"stb-approves-transaction-that-creates-new-cpkc-csx-class-i-connection-linking-mexico-texas-and-the-u-s-southeast","status":"publish","type":"post","link":"https:\/\/allonlinebanglanewspapers.com\/news\/stb-approves-transaction-that-creates-new-cpkc-csx-class-i-connection-linking-mexico-texas-and-the-u-s-southeast\/","title":{"rendered":"STB Approves Transaction That Creates New CPKC-CSX Class I Connection Linking Mexico, Texas and the U.S. Southeast"},"content":{"rendered":"
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JACKSONVILLE, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) — CSX Corporation (NASDAQ: CSX) (CSX), Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC), and Genesee & Wyoming Inc. (G&W) today said the Surface Transportation Board (STB) has approved CSX\u2019s and CPKC\u2019s respective applications regarding their acquisition of the rail lines operated by G&W\u2019s Meridian & Bigbee Railroad, L.L.C. (MNBR), which will result in the creation of a new direct CPKC-CSX interchange connection in Alabama.<\/p>\n

Through the now-approved transaction, which was previously announced in June 2023, CPKC will acquire and operate across the 52-mile segment between Meridian, Miss., and Myrtlewood, Ala., currently owned by MNBR, while CSX will operate the lines currently operated by MNBR east of Myrtlewood. As a result, CPKC and CSX will establish a direct Class I-to-Class I interchange at or near Myrtlewood and connect shippers in Mexico, Texas and the Southeast U.S. MNBR will continue to provide local service to customers between Meridian and Myrtlewood.<\/p>\n

\u201cWe thank the Surface Transportation Board members for their careful consideration of this vision to create a new Class I corridor providing more efficient service for existing CPKC and CSX traffic, while introducing new competitive shipping options between Mexico, Texas and the U.S. Southeast for our customers,\u201d said Keith Creel, CPKC President and CEO. \u201cWith this new east-west Class I route, we are creating competition, providing a service that will take more trucks off the road, and growing rail transportation by expanding markets across the southern U.S., from Dallas to Atlanta and beyond.\u201d<\/p>\n

\u201cThis new interchange with CPKC highlights our ongoing efforts to provide sustainable rail solutions and service excellence for our customers,\u201d said Joe Hinrichs, President and CEO of CSX. \u201cOnce complete, the interchange will help drive long-term business growth allowing customers to have greater connectivity and efficiency to reach key markets in Texas, Mexico, and the U.S. Southeast\u2014all while providing safe and reliable service.\u201d<\/p>\n

\u201cThis transaction is a win for customers, who benefit from a new Class I connection in the growing Southeast U.S. and uninterrupted short line service from MNBR between Myrtlewood, Alabama, and Meridian, Mississippi,\u201d said Michael Miller, G&W CEO.<\/p>\n

The STB approval is effective Nov. 16, 2024.<\/p>\n

About CSX <\/strong><\/p>\n

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation\u2019s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation\u2019s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http:\/\/facebook.com\/OfficialCSX) and follow us on Twitter (http:\/\/twitter.com\/CSX).<\/p>\n

About CPKC<\/strong><\/p>\n

With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and M\u00e9xico, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf of M\u00e9xico to L\u00e1zaro C\u00e1rdenas, M\u00e9xico. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC.<\/p>\n

About G&W<\/strong><\/p>\n

G&W owns or leases more than 100 freight railroads throughout North America with 4,000 employees serving 2,000 customers over more than 13,000 track miles. G&W subsidiaries and joint ventures also provide rail service at more than 30 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, and industrial railcar switching and repair. G&W is owned by Brookfield Infrastructure Partners, L.P. and GIC.<\/p>\n

Contacts:<\/strong>
Media<\/strong>
CPKC
mediarelations@cpkcr.com<\/u><\/a>\u00a0\u00a0<\/p>\n

CSX
Bryan Tucker
855-955-6397<\/p>\n

G&W
Tom Ciuba
203-202-8926
Tom.Ciuba@gwrr.com<\/u><\/a><\/p>\n

Investment Community<\/strong>
CPKC
Chris De Bruyn
403-319-3591
investor@cpkcr.com<\/u><\/a><\/p>\n

CSX
Matthew Korn
904-366-4515<\/p>\n

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