RailAmerica buying StatesRail for $90 million - Small-road update - Brief Article - Statistical Data Included

Railway Age, Nov, 2001

RailAmerica, which describes itself as "the world's largest short line and regional railroad operator," will become considerably larger when it completes the purchase of StatesRail's eight short lines. Under a definitive agreement announced Oct. 15, RailAmerica will pay StatesRail $70 million in cash and assumption of debts, plus $20 million in RailAmerica common stock. StatesRail operates seven freight short lines and a tourist line with 1,647 miles of track and approximately 100 locomotives, 2,600 railcars, and 400 employees.

StatesRail's component properties are the Kyle Railroad Co. with 690 miles of track in Kansas, Colorado, and Nevada; the 231-mile Kiamichi Railroad in Oklahoma, Arkansas, and Texas; the 341-mile San Joaquin Valley Railroad in California; the 141-mile Alabama & Gulf Coast Railway in Alabama and Florida; the 135-mile Arizona Eastern Railway in Arizona; the 25mile Eastern Alabama Railway in Alabama; the 78mile San Pedro & Southwestern Railway in Arizona, with service to the Mexican border; and the six-mile Lahaina, Kaanapali & Pacific Railroad, which operates the Sugar Cane Train for tourists in Hawaii.

These will be added to RailAmerica's existing empire of 39 short lines and regionals operating approximately 11,000 route miles in the U.S., Canada, Chile, and Australia.