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5/3/2006



Rail News: M&A

Chartwell International buys Middletown and New Jersey Railway



Chartwell International Inc. recently acquired the Middletown and New Jersey Railway Co. Inc. (M&NJ) for $2.2 million.

Founded in 1947 and headquartered in Middletown, N.Y., the 15-mile M&NJ serves a plastic packaging company and local utility, and interchanges with Norfolk Southern Railway. In December, the state of New York granted the short line $750,000 for track rehabilitation as part of the $100 million Rail Freight and Passenger Rail Assistance Program.

“M&NJ has before been a key element of regional economic development and growth, and we believe rail freight can again be an important factor in retaining and attracting existing and new industries,” said Chartwell International Chairman Imre Eszenyi in a prepared statement.

Chartwell International provides transportation and logistics — including waste-by-rail — services and manages landfills.


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