Pioneer studies new acquisitions - Pioneer Railcorp - Brief Article

Railway Age, May, 1995

Pioneer Railcorp CEO Guy Brenkman says the short line holding company is considering adding three small roads to the eight it already operates. He did not identify the acquisition candidates.

Based in Peoria, Ill., Pioneer acquired two small roads last year. This helped bring the company's 1994 net income to $516,123. a 111% increase over 1993. Earnings per share increased from eight cents to 19 cents.

Last year's acquisitions were the Vandalia Railroad in Illinois and the Minnesota Central in Minnesota. Pioneer's eight roads operate 390 miles of line in seven states, employ 65 people, and own 32 locomotives and 450 freight cars.

"Our business is showing signs of strong upward movements in both our current customers' rail usage as well as new business for rail usage," says Brenkman.