Florida East Coast Industries

from Wikipedia, the free encyclopedia
Florida East Coast Industries

logo
legal form Limited Liability Company
founding May 30, 1984
Seat Coral Gables
management Kolleen OP Cobb
Website www.feci.com/

The Florida East Coast Industries (FECI) is an American holding company , which in 1983 as a parent company for the railway company Florida East Coast Railway was established. The company is based in Coral Gables .

history

In 1895 the Florida East Coast Railway was founded by Henry M. Flagler . In 1961, the Edward Ball-run St. Joe Paper Company acquired control of the bankrupt rail company. From then on, the company was part of the conglomerate owned by the Alfred I. duPont Testamentary Trust . After the death of Edward Ball in 1981, a timid reorganization of the company began.

The Florida East Coast Railway (FEC) owned not only the land required for rail operations, but also many other areas and properties, including in inner-city locations along the east coast of Florida. The real estate business was outsourced to the newly formed Gran Central Corporation. The newly founded Florida East Coast Industries became the holding for the two companies on May 30, 1984.

In the fall of 1999 the St. Joe Company sold its 54% stake to its own shareholders. The FECI was thus independent again.

In December 2003 the telecommunications division EPIK Communications, which was spun off in 1999, was sold to Progress Telecom.

In May 2007, FECI was taken over by the investment company Fortress Investment Group . The railway company was then spun off from the holding company and sold to the Mexican railway company Grupo México Transportes in 2017 . However, the holding company received the right to carry out passenger transport on the FEC routes. The company All Aboard Florida Inc. was founded in 2012 and has been offering a high-speed connection between Miami and West Palm Beach under the brand name Brightline since 2018 .

In 2012, the company Parallel Infrastructure was also founded. The company's aim was to market the rail company's rights of way for telecommunications lines, among other things. In 2017 this company was sold to Landlease.

Fortress Investment and thus also FECI have belonged to the Japanese company Softbank since 2017 .

subsidiary company

Before the takeover by Fortress, Florida East Coast Industries had the following major subsidiaries:

  • Florida East Coast Railway
    • Railroad Track Construction Corporation
    • Florida East Coast Deliveries, Inc.
  • FEC Highway Services, Inc.
    • Florida Express Logistics, Inc. - trucking company
  • Flagler Transportation Services, Inc.
  • Flagler Development Company (previously Gran Central, previously Commercial Realty & Development)
    • Flagler Development Realty, Inc.
    • FDC Land Holdings, LLC
  • EPIK Communications (FEC Telecom) (1999-2003)

At the beginning of 2019 the company portfolio consisted of:

  • All Aboard America Inc ( Brightline )
  • Flagler Global Logistics
  • Flagler Development

Corporate management

  • May 30, 1984 – May 1997: Winfred L. Thornton (Chief Executive Officer, Chairman of the Board, President until 1992)
  • May 1997–1999: Carl F. Zellers Jr. (CEO, Chairman, President since 1992)
  • 1999-28. March 2005: Robert W. Anestis (CEO, Chairman, President)
  • March 28, 2005 – December 2007: Adolfo Henriques
  • 2011–13. June 2017: Vincent Signorello (President since April 2009)
  • July 2017 – June 2018: Mike Reininger (as Executive Director)
  • since December 2018: Kolleen OP Cobb (as Chief Administrative Officer)

Company headquarters

Web links

literature

  • Seth Bramson: Speedway to Sunshine: The Story of the Florida East Coast Railway . Boston Mills Press, 2010, ISBN 978-1-55407-753-3 .

Individual evidence

  1. ^ 24 May 1984, Page 68 - South Florida Sun Sentinel at Newspapers.com. Retrieved March 11, 2019 .
  2. ↑ 28 Oct 1999, Page 108 - The Orlando Sentinel at Newspapers.com. Retrieved March 11, 2019 .