RailAmerica completes $7 million SLRG sale

RailAmerica completes $7 million SLRG sale Boca Raton, Fla.-based RailAmerica has completed the $7 million sale of its San Luis and Rio Grande railroad (SLRG) in Colorado to Permian Basin Railways.
   The SLRG totals 154 miles from Walsenburg to Derrick, and from Alamosa to Antonito. For the nine-month period ended Sept. 30, the SLRG posted revenue of $2.6 million.
   Permian Basin Railways is a subsidiary of Iowa Pacific Holdings. Last year, Permian Basin Railways purchased the Arizona Eastern Railway and the West Texas and Lubbock Railroad from RailAmerica.
   “We continually review the strategic and economic value of each of our railroads,” said Charles Swinburn, chief executive officer of RailAmerica, in a statement. “The sale of the SLRG is part of our previously announced plan to restructure our portfolio of railroads into its most economic core.'
   RailAmerica is now the holding company for 46 short-line railroads operating about 8,700 miles in the United States and Canada.