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RAIL EMPLOYMENT



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4/2/2003



Rail News: Rail Industry Trends

Watco Cos. acquires first eastern short line


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On April 1, Watco Cos. Inc. began operating Pennsylvania Southwestern Railroad (PSWR) — the holding company's ninth short line and first east of the Mississippi River.


Acquired from Midland Terminal Co., 13-mile PSWR primarily serves steel mill J&L Specialty Steel in Midland, Pa., and interchanges with Norfolk Southern Railway. The short line moves scrap steel and steel products.


"This is our first operation primarily serving a steel mill, which we believe provides many growth opportunities," said Watco President and Chief Executive Officer Rick Webb in a prepared statement.


Watco owns and operates 920-mile Kansas and Oklahoma Railroad; 511-mile Southeast Kansas, and South Kansas and Oklahoma railroads (operated as one); 396-mile Blue Mountain, and Palouse River and Coulee City railroads (operated as one); 270-mile Eastern Idaho Railroad; 232-mile Stillwater Central Railroad; and 140-mile Timber Rock Railroad.


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