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Rail News: M&A
Last month, CSX Transportation reached an agreement with Allegheny Valley Railroad Co. (AVR) under which the short line will lease and operate several Pennsylvania rail segments and acquire some trackage rights.
AVR will lease and operate 33.1 track miles between Glenwood Junction and Washington; 13.2 track miles between Glenshaw and East Schenley; and a portion of track in CSXT’s Glenwood Yard.
The short line also will acquire trackage rights to a 1.9-mile East Schenley-to-Field line to provide service to the line’s customers and connect the leased segment ending at East Schenley with the segment beginning in Field.
CSXT and AVR have filed an exemption notice with Surface Transportation Board, which recently approved the transaction.
12/1/2003
Rail News: M&A
Pennsylvania short line to lease, operate CSXT's track
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Last month, CSX Transportation reached an agreement with Allegheny Valley Railroad Co. (AVR) under which the short line will lease and operate several Pennsylvania rail segments and acquire some trackage rights.
AVR will lease and operate 33.1 track miles between Glenwood Junction and Washington; 13.2 track miles between Glenshaw and East Schenley; and a portion of track in CSXT’s Glenwood Yard.
The short line also will acquire trackage rights to a 1.9-mile East Schenley-to-Field line to provide service to the line’s customers and connect the leased segment ending at East Schenley with the segment beginning in Field.
CSXT and AVR have filed an exemption notice with Surface Transportation Board, which recently approved the transaction.
