G&W completes buy of Maryland Midland Railway
Genesee & Wyoming Inc. (G&W) said on New Year's Day that it had completed its acquisition of 87.4 percent of the Maryland Midland Railway for $29.1 million in cash, with the price to be adjusted for final working capital.
Maryland Midland, located about 40 miles from G&W's York Railway, operates over 63 miles of track between Glyndon and Highfield, Md., and between Walkersville and Taneytown, Md. It has 30 employees and is an interline carrier with CSX.
Lehigh Cement, which is Maryland Midland's largest customer, retains a 12.6 percent ownership of the railroad.
G&W owns and operates short line and regional freight railroads in the United States, Canada and Australia and owns a minority interest in a railroad in Bolivia. It operates 48 railroads with more than 5,800 miles of owned and leased track and about 3,500 additional miles under track access arrangements. G&W provides rail service at 12 U.S. ports and also performs contract coal loading and railcar switching for industrial customers. Corporate headquarters is in Greenwich, Conn.
G&W completes buy of Maryland Midland Railway
