OmniTRAX Affiliate Has Purchased Alabama & Tennessee River Railway And Fulton County Railway From CSX
DENVER--(BUSINESS WIRE)--Jul 10, 2018--A managed affiliate of OmniTRAX, Inc., one of the largest privately held transportation service companies in North America and an affiliate of The Broe Group, has acquired the Alabama & Tennessee River Railway, LLC (ATN) and the Fulton County Railway, LLC (FCR) from CSX. Terms for the transaction were not disclosed.
“The Alabama & Tennessee River Railway and the Fulton County Railway have been great operations for OmniTRAX due to the business friendly climate in Alabama and Georgia, strong regional commodity flows and select expansion opportunities,” said Kevin Shuba, CEO of OmniTRAX.
“The transaction marks another milestone in our strong relationship with CSX. We thank the CSX team for their professionalism during the process and look forward to working with them to support current and future customers on the two railroads.”
The operations of the ATN and FCR, which have been managed by OmniTRAX for several years, are expected to continue unchanged following the acquisition. The ATN, based in Gadsden, AL, operates 120 miles track used to transport cement, pulp board, food products, canned goods, steel and other commodities. The FCR, based in Atlanta, operates 25 miles of track in the Fulton County Industrial Park providing service to warehouses and light manufacturing companies transporting food products, metals, building materials, paper and packaging products.
About OmniTRAX, Inc.
As one of North America’s largest private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing management services to railroad and port services and to intermodal and industrial switching operations. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at www.omnitrax.com.
About The Broe Group
The Broe Group, based in Denver, Colorado, is a diversified privately-owned enterprise with a multi-billion dollar asset base. The Broe Group and its affiliates employ more than 1,000 people directly and provide employment for countless others through its Great Western Industrial Park in Northern Colorado. The Broe Group and its affiliates own commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations, and one of the largest operators of short-line railroads in the U.S. Its energy affiliate, Great Western Oil & Gas Company, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has multiple other investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see www.broe.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180710005557/en/
Ronald Margulis, +1-908-272-3930
KEYWORD: UNITED STATES NORTH AMERICA ALABAMA COLORADO
INDUSTRY KEYWORD: BUILDING SYSTEMS SUPPLY CHAIN MANAGEMENT TRANSPORT MARITIME RAIL TRUCKING OTHER TRANSPORT MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT OTHER MANUFACTURING NATURAL RESOURCES OTHER NATURAL RESOURCES RETAIL CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: OmniTRAX, Inc.
Copyright Business Wire 2018.
PUB: 07/10/2018 09:00 AM/DISC: 07/10/2018 09:01 AM