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Rail News: M&A

Illinois RailNet acquires two BNSF lines in Land of Lincoln

On Saturday, Illinois RailNet Inc. began operating two lines it acquired from Burlington Northern Santa Fe. Totaling about 25 track miles, the northern Illinois lines run between Oregon and Mt. Morris, and Zearing and LaSalle.

The lines will enable the 80-mile short line to serve shippers in Oregon, Mt. Morris, Ladd, LaSalle, Spring Valley and Peru.

"[The transaction] will benefit the customers on the lines by providing them with the flexible local service options provided by Illinois RailNet while continuing to provide the long-haul reliability of BNSF," said Illinois RailNet Chairman and Chief Executive Officer Rob McKenney in a prepared statement.

Owned by North American RailNet Inc. and formed in 1997, Illinois RailNet will interchange with BNSF in Oregon and/or Flag Center for traffic moving between Oregon and Mt. Morris, and in Zearing for traffic moving between Zearing and LaSalle.

North American RailNet also owns and operates Mississippi & Tennessee RailNet, Alberta RailNet Inc., Georgia & Florida RailNet Inc., and Nebraska, Kansas & Colorado RailNet Inc.

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More News from 10/11/2004