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RailAmerica to set up former ParkSierra short lines as separate entities


When RailAmerica Inc. in November acquired from ParkSierra Rail Group 346-mile Arizona & California Railroad Co., 255-mile California Northern Railroad Co. and 150-mile Puget Sound & Pacific Railroad Co., the three short lines were packaged as one to facilitate the sale.
Since RailAmerica prefers to operate its regionals and short lines as independent railroads, the holding company recently filed with Surface Transportation Board to dissolve ParkSierra as a consolidated holding company and establish each short line as separate operating companies.
"Since each railroad is operated as a separate entity/subsidiary for
RailAmerica, we're just formalizing the process with the STB," says Wayne August, RailAmerica assistant vice president of investor relations, adding that when the company late last year acquired StatesRail, that holding company's eight railroad properties already were individual entities.
RailAmerica plans soon to complete the transactions.
Jeff Stagl

Contact Progressive Railroading editorial staff.

More News from 5/24/2002