USA: Canadian Pacific Kansas City and CSX have reached agreements to acquire or operate parts of Genesee & Wyoming’s Meridian & Bigbee Railroad to create a direct CPKC-CSX interchange at Myrtlewood in Alabama.
‘This strategic acquisition will bring more shipping options to intermodal, automotive and other customers by providing a new, efficient corridor connecting expanding markets in Mexico, Texas and the US southeast’, said CPKC President & CEO Keith Creel on June 28.
In exchange, G&W would acquire certain Canadian properties owned by CPKC and other rights. MNBR would receive rights to continue to provide local service to existing customers on former MNBR-owned lines and connect with other railways without interchange restrictions.
The plan is subject to definitive agreements and regulatory approval.
