P&L Transportation

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P&L Transportation (until 2012 Four Rivers Transportation - FRTI ) is an American holding company in rail transport based in Wilmington , Delaware .

history

The railway line from Paducah to Louisville ( Paducah and Louisville Railway ) was sold on August 27, 1986 by the Illinois Central Gulf Railroad to the newly founded CG&T Co. Inc. On November 18, 1988, the financing bank First Chicago Corporation took over the company with its subsidiary Rail Holdings Inc. (from July 1990 as Kentucky Railworks Inc).

The management of the Paducah and Louisville Railway merged with the Class I railroad company CSX Transportation in 1995 to take over the railroad company. The parties involved therefore founded Four Rivers Transportation Inc.

In August 2005 the subsidiary Evansville Western Railway was founded, which from January 1, 2006 leased the railway line from Evansville (Indiana) to Okawville (Illinois) from CSX and operates it under its own management. This company was initially incorporated as a subsidiary of the Paducah and Louisville Railway.

In May 2006, the company took over the Appalachian and Ohio Railroad . This CSX route from Grafton to Cowen in West Virginia had previously been operated by Watco Companies for a year .

As part of a corporate reorganization in 2007, all three railway companies became direct subsidiaries of the holding company. In 2012 the company changed its name to P&L Transportation.

Ownership

CSX has held 35% of the ordinary shares with voting rights in P&L Transportation since it was founded. 65% are owned by the P&L management. Furthermore, the CSX holds 100% of the non-voting preference shares and has the right to one of the three seats on the board of directors of FRTI and three of the seven board seats of Paducah & Louisville.

Subsidiaries

  • Paducah and Louisville Railway
  • Evansville Western Railway
  • Appalachian and Ohio Railroad

Corporate management

literature

  • Edward A. Lewis: American Shortline Railway Guide . 5th edition. Kalmbach Publishing Co., Waukesha, WI 1996, ISBN 0-89024-290-9 , pp. 241 ( google.de ).

Web links

Individual evidence

  1. ^ A Notice by the Transportation Department and the Surface Transportation Board on 08/08/2007: Four Rivers Transportation, Inc., Paducah and Louisville Railway, Inc., and Evansville Western Railway, Inc.-Corporate Family Transaction Exemption
  2. ↑ STB Finance Docket No. 34738: PADUCAH & LOUISVILLE RAILWAY, INC. - ACQUISITION - CSX TRANSPORTATION, INC.