Rail News Home CSX Transportation 5/12/2021 Rail News: CSX Transportation
CSX Corp. today announced it has signed a definitive agreement to acquire Quality Carriers Inc., a provider of bulk liquid chemicals truck transportation, from Quality Distribution Inc.Terms of the transaction were not disclosed. The acquisition will establish the first integrated multimodal chemical transportation solution, CSX officials said in a press release.Quality Carriers operates an extensive bulk tank trucking fleet with about 2,500 drivers. Through a network of more than 100 company-owned and affiliate terminals and facilities located throughout the United States, Canada and Mexico, the company provides transportation services to many leading chemical producers and shippers.The transaction will expand the reach of both CSX and Quality Carriers, CSX officials said."Our new partnership will provide chemical producers and shippers with a first-of-its-kind multimodal solution that capitalizes on the powerful synergies between Quality Carriers’ truck transportation fleet and our cost-advantaged rail network. We believe that this new capability will create meaningful long-term value for our company," said CSX President and Chief Executive Officer James Foote.Quality Carriers’ management team, led by President Randy Strutz, will continue to lead the business as part of CSX.
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Rail News Home Canadian Pacific 5/10/2021 Rail News: Canadian Pacific
Canadian Pacific today announced that another 131 stakeholders filed statements with the Surface Transportation Board (STB) on May 8 in support of its proposed merger with Kansas City Southern, bringing the total to close to 550 supporters across the transportation supply chain in North America, CP officials said in a press release.The statements follow previous filings with the STB in support of the CP-KCS transaction and those opposing CN’s counterbid for KCS.Customers and other supporters stated they expect the combination of CP and KCS, among other benefits, would invigorate transportation competition, expand access to existing and growing markets, and provide new service offerings that would improve transit times and reliability along the Canada-U.S.-Mexico corridor, CP officials said.Last week, the STB approved CP's use of a voting trust for its proposed combination with KCS. CP is seeking approval from the STB for the combination, which also remains subject to the approvals of CP and KCS shareholders, and other customary closing conditions.The STB review is expected to be completed by the middle of 2022.
Canadian Pacific today announced that another 131 stakeholders filed statements with the Surface Transportation Board (STB) on May 8 in support of its proposed merger with Kansas City Southern, bringing the total to close to 550 supporters across the transportation supply chain in North America, CP officials said in a press release.The statements follow previous filings with the STB in support of the CP-KCS transaction and those opposing CN’s counterbid for KCS.Customers and other supporters stated they expect the combination of CP and KCS, among other benefits, would invigorate transportation competition, expand access to existing and growing markets, and provide new service offerings that would improve transit times and reliability along the Canada-U.S.-Mexico corridor, CP officials said.Last week, the STB approved CP's use of a voting trust for its proposed combination with KCS. CP is seeking approval from the STB for the combination, which also remains subject to the approvals of CP and KCS shareholders, and other customary closing conditions.The STB review is expected to be completed by the middle of 2022.