CSX Earns Support from Key New England Passenger Rail Authority
August 06 2021 - 10:15AM
CSX Corp. (NASDAQ: CSX) announced today that it reached agreement
with the Northern New England Passenger Rail Authority (“NNEPRA”),
one of New England’s largest passenger rail trade authorities to
support its planned merger with Pan Am Railways Inc. (Pan Am).
Following the submission of this agreement with
the STB, “NNEPRA will file with the STB in support of the approval
of the Application,” wrote the association’s executive director
Patricia Quinn. NNEPRA’s support for the transaction is significant
given NNEPRA’s role as the primary state sponsor of Amtrak’s
Downeaster passenger rail service between Brunswick, Maine and
Boston, Massachusetts. A copy of the agreement filed with the STB
can be viewed here.
CSX President and CEO James M. Foote said, “This
agreement demonstrates our commitment to work collaboratively with
all stakeholders and to maintain or improve passenger service in
the region.”
The Maine-based NNEPRA’s support joins that of Maine Governor
Janet Mills who recently filed a letter with the STB
enthusiastically voicing support for the merger. Gov. Mills, in her
letter, wrote in part, that, “This transaction has the potential to
bring substantial benefits to Maine. The state of Maine relies on
rail traffic to deliver goods and support our economy. If the
transaction is approved, CSX has indicated that it will make
upgrades to track and locomotives to provide improved service,
extend positive train control on Amtrak's Downeaster, and make
other improvements to the rail network. These changes would benefit
Maine businesses and shippers that rely on freight rail to ship
products and goods and positively impact passenger rail
service.”
The transaction will provide significant
benefits to shippers, passenger rail users, and local communities
as CSX integrates Pan Am into its best-in-class network. In
particular, as CSX connects more of New England with its existing
23-state network, which serves two thirds of the nation’s
population, CSX’s expected investment in infrastructure upgrades
will improve freight and passenger rail service and further enhance
the environmental sustainability of rail transportation in New
England by shifting truck traffic off the highway.
On Friday, July 30, the STB accepted CSX’s
revised application, which was filed earlier last month as part of
an agreement to acquire Pan Am Railways.
Copies of the aforementioned support letters and
additional information on the merger can be found by visiting
NEFreightRail.com.
About CSX
CSX, based in Jacksonville, Florida, is a
premier transportation company. It provides rail, intermodal and
rail-to-truck transload services and solutions to customers across
a broad array of markets, including energy, industrial,
construction, agricultural and consumer products. For nearly 200
years, CSX has played a critical role in the nation’s economic
expansion and industrial development. Its network connects every
major metropolitan area in the eastern United States, where nearly
two-thirds of the nation’s population resides. It also links more
than 230 short-line railroads and more than 70 ocean, river and
lake ports with major population centers and farming towns alike.
More information about CSX Corp. and its subsidiaries is available
at www.csx.com. Like us on Facebook
(http://facebook.com/OfficialCSX) and follow us on Twitter
(http://twitter.com/CSX).
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Contact:Bill Slater, Investor
Relations904-359-1334
Bryan Tucker, Corporate Communications855-955-6397
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