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Rail News Home Short Lines & Regionals

9/8/2004



Rail News: Short Lines & Regionals

Transit Rail's investment in New York Regional Rail surpasses $1 million



Today, New York Regional Rail Corp. (NYRR) announced Transit Rail L.L.C. has invested an additional $250,000 in the transportation holding company. Since agreeing to purchase about 2,500 shares of NYRR stock in February, Transit Rail has invested $1.25 million.

Owner and operator of New York Cross Harbor Railroad (NYCH) and trucking subsidiary JS Transportation, NYRR is using investment proceeds to reduce its working capital deficit by about $500,000 and improve NYCH's infrastructure.

"Now, with the improvements made at our Greenville Yard, the improvements planned, the additional assets purchased or leased, NYCH is able to provide the service our customers demand, which is resulting in increasing rail revenue," said NYRR President Wayne Eastman in a prepared statement.


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