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Genesee & Wyoming completes Maryland Midland Railway deal

Genesee & Wyoming Inc. (GWI) now is the majority owner of Maryland Midland Railway Inc. Yesterday, GWI announced it completed the acquisition of 87.4 percent of Maryland Midland for $29.1 million in cash per a deal reached in October.

Lehigh Cement, Maryland Midland's largest customer, retains a 12.6 percent stake in the 63-mile short line. Maryland Midland operates between Glyndon and Highfield, and Walkersville and Taneytown, Md., and interchanges with CSX Transportation.

GWI owns and operates 48 regionals and short lines in the United States, Canada and Australia, and owns a minority interest in a Bolivian railroad.

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More News from 1/2/2008