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Rail News: M&A

Watco expands into West Virginia by leasing CSXT line


The Watco Cos. Inc. has completed its third track-acquisition deal with a Class I within the past three weeks. On Friday, CSX Transportation announced it agreed to lease to Watco a 158-mile segment of the former B&O territory between Grafton and Cowen, W.Va. The lease takes effect March 25.

"We are pleased to have the opportunity to operate in one of the most
important coal-producing states," said Watco Chief Executive Officer Rick Webb in a prepared statement.

Watco — which owns and operates 10 short lines in 11 states — completed two transactions with Burlington Northern Santa Fe late last month. Subsidiary Stillwater Central Railroad leased 15 track miles between Wheatland and Oklahoma City, Okla., and newly formed subsidiary Mission Mountain Railroad acquired track in Montana.

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More News from 1/10/2005