CSX Corporation

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CSX Corp.

logo
legal form Corporation
ISIN US1264081035
founding November 1, 1980
Seat Jacksonville , Florida ,United StatesUnited States
management James M. Foote
Number of employees 21,000 (end of 2019)
sales 11,937,000,000 USD (2019)
Branch Railway company
Website www.csx.com
As of December 31, 2019

The CSX Corporation is an American company based in Jacksonville . The company is listed in the NASDAQ-100 share index.

The most important subsidiary is the railway company CSX Transportation . The group also has other holdings in the freight forwarding industry. The Greenbrier hotel in White Sulfur Springs was part of the company until 2009.

history

The company was formed on November 1, 1980 when Seaboard Coast Line Industries Inc. (mother of Seaboard Coast Line Railroad ) and Chessie System Inc. merged.

With this merger, a large portfolio of non-railway companies was created. Seaboard acquired "Cybernetics & Systems", "Florida Publishing Company", "Clay Video" and "Area Communications" and Chessie System "Chessie Resources", "The New River Company", "The Greenbriar" and "Beckett Aviation Corporation" brought in.

In the following years, the various activities began to be organized or rejected. This attempted to compensate for the loss-making business in the railway sector by investing in the energy sector. In 1982 "Area Communications" was sold to Demtree and in 1983 the merger with "Texas Gas Resources Corporation" (TXG). As a result, it came to control over the inland shipping company "American Commercial Lines". In the same year, the rail ferries on Lake Michigan were sold to Michigan-Wisconsin Transportation.

1985 the "Beckett Aviation Corporation" was sold. In 1986 the hotel group "Rockresorts" was purchased from Laurance S. Rockefeller and the investment in the gas pipeline company "Yukon Pacific Corporation". In the same year "CSX Minerals" and the "New River Company" were sold to the "Quintana Minerals Corp".

In 1987 it merges with the Sea-Land Corporation . As a result, a joint company for container transport by land and water CSX / Sea-Land Intermodal and Logistics was founded. The company was now able to offer container services to and from the USA from a single source worldwide.

The CSX Oil & Gas was sold to Total Minatome in 1988, and participation in Yukon Pacific is further increased. As part of the further corporate strategy, the following years began to concentrate more on the transport business and began with the sale of “Rockresorts” to “VMS Realty Partners”, “Texas Gas Transmission” (TXG) to the Transco Energy Company and “CSX” Energy ”to Enron .

From 1991 the reorientation in the container freight business began. A first step was the participation of "Ready City Ltd". to "Sea-Land Orient Terminals Ltd", the container terminal in Hong Kong . In 1992 “CSX / Sea-Land Logistics” was restructured to “CSX Logistic”. A year later, the logistics company “Customized Transportation Inc.” (CTI), later “CTI Logistx”, was taken over.

In 1998 “CSX Integrated Services” became “BridgePoint”. In 1999 the Sea-Land overseas fleet was sold to AP Møller-Mærsk for $ 800 million . The remaining inland fleet was renamed "CSX Lines" and the container ports to "CSX World Terminals". In 2000 "CTI Logistx" was sold to TNT NV . In 2003, Chairman and CEO John W. Snow became Secretary of the Treasury under George W. Bush .

In 2003 the company's headquarters were moved from Richmond, Virginia to Jacksonville. In the same year CSX and The Carlyle Group founded a new company "Horizon Lines", into which the "CSX Lines" merged. In 2004 this participation was sold. In 2005 the port division “CSX World Terminals” was sold to Dubai Ports for 1.142 billion dollars .

After the Hotel Greenbrier continued to make losses, it went bankrupt in 2009 and sold to entrepreneur Jim Justice.

Corporate management

President and Chief Executive Officer

  • November 1, 1980–1982: Prime F. Osborn III (President and Co-CEO), previously Seaboard Coast Line
  • November 1, 1980–1989: Hays T. Watkins, Jr .: (Co-CEO, sole CEO from 1982), previously Chessie System
  • 1988-January 2003: John W. Snow (1989-Jan 2003: CEO; 1988-10 July 2002: President)
  • July 10, 2002–6. March 2017: Michael J. Ward (January 2003 - March 6, 2017: CEO, July 10, 2002 - February 11, 2015: President)
  • February 11, 2015-September 2015: Óscar Muñoz (President)
  • September 2015–14. February 2017: Clarence W. Gooden (President)
  • February 15, 2017 - April 19, 2017: Fredrik Eliasson (President)
  • March 6, 2017 - December 14, 2017: E. Hunter Harrison (President from April 19, 2017)
  • since December 14, 2017: James M. Foote (December 14-22, 2017 acting)

Chairman of the board

Main subsidiaries

Sales by division in% (2015)
CSX Transportation
Railway company, main subsidiary and core business
CSX Intermodal
Logistics and transport company for container freight (2004: over 2.3 million containers transported)
CSX Technology
Information software and technology company
CSX Real Property
Real estate division
TRANSFLO
Service provider for bulk goods
Total Distribution Services Inc.
Service provider for the automotive industry (storage and sales)
CSX de Mexico
Service provider for transport to Mexico

On July 1, 2017, CSX Transportation merged with CSX Real Property.

Individual evidence

  1. ↑ a b Annual Report 2019. In: https://investors.csx.com/financials/annual-reports/default.aspx . CSX Corp., accessed June 7, 2020 .
  2. ↑ Annual Report Form 10K 2015