RAILAMERICA SELLS GEORGIA SHORT-LINE RAILROAD

RAILAMERICA SELLS GEORGIA SHORT-LINE RAILROAD    RailAmerica Inc., the short-line and regional railroad operator, said Thursday it has sold its Georgia Southwestern Railroad in three transactions totaling about $7.1 million.
   About 102 miles of track and associated real estate was sold to the State of Georgia for about $5.4 million. In related transactions, a local, private operator purchased the capital stock of Georgia Southwestern Railroad (GSWR) and eight RailAmerica locomotives for $1.7 million. The operate will continue to run the railroad on behalf of the state.
   The GSWR generated about $3.7 million in revenues and earnings before interest, taxes, depreciation and amortization of about $539,000 in 2001.
   RailAmerica said it plans to use proceeds of the sale to reduce corporate debt and reinvest in additional core rail properties.
   Boca Raton, Fla.-based RailAmerica owns 49 short line and regional railroads, operating about 12,700 route miles in the United States, Canada, Australia and Chile.