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Rail News: M&A

Pennsylvania short-line owner seeks control of Carolina Coastal Railway

Douglas Golden recently filed an "acquisition of control exemption" with Surface Transportation Board to purchase Carolina Coastal Railway Inc.'s stock from Rail Link Inc.

On July 7, Golden reached a stock-purchase agreement with industrial switching and logistics service provider Rail Link to gain control of the 17-mile short line, which interchanges with Norfolk Southern Railway in Pinetown, N.C.

Golden currently controls and owns the stock of two-mile short line Landisville Terminal and Transfer Co., which interchanges with NS in Landisville, Pa. He plans to operate the two short lines as separate entities.

A Genesee & Wyoming Inc. subsidiary, Rail Link operates seven short lines, including 17-mile Commonwealth Railway Inc. and 120-mile Louisiana & Delta Railroad.

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More News from 8/15/2003