Rail Management Corporation
Durden Enterprises II Inc - Formally Rail Management Corporation (RMC), based in Panama City Beach, Florida, was a holding company of short line railroads in the southeastern United States.
Company logo
History
On May 26, 2005, Genesee and Wyoming (G&W) announced that it has agreed to purchase RMC's railroad operations. G&W will pay $243 million in cash and assume $1.7 million in company debt to gain control of 14 short line railroads from RMC across the southeastern United States, as of June 1, 2005. The owners of RMC would then use cash derived from the sale to purchase several radio stations, including WILN, WKMX, KDAY, and WYYX among others.
Holdings
RMC held controlling interests in the following railroads:
- AN Railway
- Atlantic and Western Railway
- Bay Line Railroad
- Copper Basin Railway
- East Tennessee Railway
- Galveston Railroad
- Georgia Central Railway
- Kentucky West Tennessee (KWT)
- Little Rock and Western Railway
- Meridian and Bigbee Railroad
- Tomahawk Railway
- Valdosta Railway
- Western Kentucky Railway
- Wilmington Terminal Railroad
References
- Genesee and Wyoming, Inc. (May 26, 2005), Genesee & Wyoming Announces Agreement to Acquire Short Line and Port Railroads from Rail Management Corporation. Retrieved May 27, 2005.
- Trains News Wire (May 26, 2005), G&W to acquire Rail Management Corp. rail operations. Retrieved May 27, 2005.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.