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11/17/2003



Rail News: M&A

Canadian Pacific sells Waterloo Spur to Wisconsin & Southern


Canadian Pacific Railway recently sold a 32.5-mile Wisconsin segment to Wisconsin & Southern Railroad Co. (WSOR). The deal's terms weren't disclosed.

WSOR had leased the line from CPR since 1998 and exercised an option to purchase it. Known as the Waterloo Spur, the line runs from Madison to Watertown, Wis.

Billing and accounting procedures will change as a result of the sale, but the rail service schedule will remain the same, CPR officials said in a Nov. 14 prepared statement. The Class I retained the right to serve one customer directly: Michaels Materials in Waterloo.

With the Waterloo Spur acquisition, WSOR would operate 640 miles of track, including tracks that radiate from Madison to Middleton, Waukesha and Janesville, Wis. The line serves five Wisconsin towns: Burke, Sun Prairie, Deansville, Marshall and Waterloo.

"We foresee the Waterloo Spur as having a great growth potential both with existing customers and new customers locating online, which will benefit both WSOR and CPR," said WSOR President Bill Gardner. "Customer service will continue to be our top priority."


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