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Rail News Home M&A

1/2/2004



Rail News: M&A

Lehigh Valley Rail to obtain Pennsylvania lines from short-line holding company ISG Railways



Lehigh Valley Rail Management L.L.C. (LVRM) recently filed an exemption notice with Surface Transportation Board to acquire 170 track miles from ISG Railways Inc.

Under an agreement with ISG, LVRM would own and operate a 132-mile line in Northampton County, Pa., formerly operated by Keystone Railroad L.L.C.; a 32-mile line in Cambria County, Pa., formerly operated by Conemaugh & Black Lick Railroad L.L.C.; and a 4.5-mile line and 1.6-mile connecting segment in Cambria County formerly operated by Cambria and Indiana Railroad Inc.

In May 2003, International Steel Group formed ISG Railways after obtaining the assets of Keystone Railroad L.L.C. — owner of eight short lines — from Bethlehem Steel Corp.

ISG Railways owns and operates the 60-mile Lake Michigan & Indiana Railroad Co.; 29-mile Conemaugh & Black Lick Railroad; 10-mile Patapsco & Back Rivers Railroad Co.; eight-mile Philadelphia, Bethlehem and New England Railroad Co.; six-mile Upper Merion & Plymouth Railroad Co.; five-mile Steelton & Highspire Railroad Co.; three-mile Brandywine Valley Railroad Co.; and one-and-a-half-mile Cambria and Indiana Railroad.


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