Genesee and Wyoming
| Genesee and Wyoming Inc.
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|---|---|
 |
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| legal form | Incorporation |
| ISIN | US3715591059 |
| founding | 1899 |
| Seat | Greenwich (Connecticut) , United States |
| management | John C. Hellman ( CEO ) |
| Number of employees | 8,000 (2018) |
| sales | 2.35 billion US dollars (2018) |
| Branch | Operation of railways |
| Website | www.gwrr.com |
Genesee and Wyoming , Inc. (GWI) is a US railroad company based in Greenwich, Connecticut . Genesee and Wyoming operates 120 freight lines approximately 26,000 km in length in the United States and Canada, and to a lesser extent in Europe. A subsidiary in Australia was sold in early 2020.
In 2018, around 80% of sales were generated in North America, 15% in Australia and 5% in Europe.
history
In 1899, the salt magnate Edward Laton Fuller acquired the bankrupt Genesee and Wyoming Valley Railway from Greigsville to Caledonia , New York State , in order to transport the salt from its own mine. Until 1977 the company only served local transport. It was above all the International Salt Company with its mine in Retsof that ensured stable income, but also meant great dependency. In that year, Genesee and Wyoming Inc. was founded as a holding company. With the passing of the Staggers Act 1980 and the associated deregulation in the American railroad system, Mortimer B. Fuller III , great-grandson of Edward Fuller, saw the opportunity to break away from this dependency.
Over the next 16 years, the company expanded with the acquisition of 14 railroad lines or companies in New York, Pennsylvania, Louisiana, Oregon and Illinois. In 1996 she bought Rail Link and expanded the portfolio to include additional routes as well as port and factory railways. As a subsidiary, Rail Link remained responsible for the smaller companies. In the same year the company went public. In June 2005, with the acquisition of the Rail Management Corporation, the route network was expanded further. The railways taken over in this purchase were placed under Rail Link.
With the global privatization of railways, Genesee and Wyoming began to enter these markets outside the USA and acquired holdings in Canada, Mexico, Australia and Bolivia. Participation in the Australian Railroad Group (ARG) was given up again in 2006. This left only the route network in southern Australia in company ownership. In 2005, Hurricane Stan destroyed over 70 bridges and around 280 kilometers of the Mexican Ferrocarriles Chiapas-Mayab . Since it is uneconomical to rebuild the line, GWI gave back its concession on June 25, 2007 and finally ceased operations on the line.
On April 15, 2008 the takeover of the Dutch railway company Rotterdam Rail Feeding was announced. On June 1, 2008, the takeover of CAGY Industries, mother of the Columbus and Greenville Railway (C&G), Chattooga and Chickamauga Railway (CCKY) and Luxapalila Valley Railroad (LXVR), took place. Further acquisitions were completed on October 1 of the same year. On the one hand, the Ohio Central Railroad System consisting of ten routes was taken over for $ 234.3 million , and on the other the Georgia Southwestern Railroad .
On September 29, 2009, the stake in the Bolivian Ferroviaria Oriental was sold .
In July 2012, the company announced that it would take over competitor RailAmerica for $ 1.4 billion. With the acquisition, the route network in the United States would grow to 24,000 kilometers. In addition, the joint venture would operate over 110 railway lines.
At the end of February 2015, the British Freightliner was taken over for 755 million USD . In November 2016, the Providence and Worcester Railroad was taken over . On May 3, 2017, the British container logistics company Pentalver Transport Limited was acquired.
On July 1, 2019, Brookfield Infrastructure Partners and GIC announced the upcoming acquisition of the company . Through December 30, 2019, these companies acquired all of G & W's shares at a price of $ 112 per share. The deal is valued at around $ 8.4 billion. With the acquisition completed, Genesee & Wyoming shares will no longer be traded on the stock exchange as of December 30, 2019. Genesee and Wyoming Australia was not taken over by Brookfield and GIC, but sold to Macquarie Infrastructure and Real Assets and the Dutch pension fund PGGM NV, which had already taken over 48.9% of the shares in G & W's Australian subsidiary in 2016. The company has been trading as One Rail Australia since spring 2020 .
Railway companies owned by Genesee & Wyoming
| Surname | abbreviation | country | Owned since | Owned until | comment |
|---|---|---|---|---|---|
| Ferroviaria Oriental | Bolivia | 1995 | 2009 | Sold again in 2009. | |
| Freightliner | Great Britain, Poland, Germany | 2015 | Freightliner Australia will be part of Genesee and Wyoming Australia from 2015 | ||
| Rotterdam Rail Feeding | Netherlands, Belgium | 2008 | |||
| Genesee and Wyoming Australia | GWA | Australia | 2006 | 2020 | 2010 Expansion of the Tarcoola – Darwin route sold to Macquarie Infrastructure and Real Assets and PGGM NV in early 2020 |
| Ferrocarriles Chiapas Mayab | FCCM | Mexico | 1999 | 2007 | Sold in 2007 after being destroyed by a hurricane |
Corporate management
- Mortimer B. Fuller III : 1977 October 1997: President; 1977 - June 1, 2007: Chief Executive Officer; 1977 - May 24, 2017: Chairman of the Board
- Charles N. Marshall : October 1997 - May 2, 2005: President
- John C. Hellmann : since May 2, 2005: President; since June 1, 2007: Chief Executive Officer; since May 24, 2017: Chairman of the Board
Web links
Individual evidence
- ↑ Senior Executives
- ↑ a b About Us
- ↑ a b c 2018 Annual Report. (PDF) Genesee & Wyoming Inc., 2019, accessed January 18, 2020 .
- ↑ Operations
- ↑ Genesee & Wyoming takes over Rotterdam Rail Feeding , April 15, 2008
- ↑ Genesee & Wyoming Signs Agreement to Acquire CAGY Industries, Inc. ( January 23, 2016 memento in the Internet Archive ), April 29, 2008
- ↑ Financial Times Deutschland (Ed.): Billion dollar takeover of the railway in the USA . July 25, 2012, p. 4 .
- ^ Genesee & Wyoming completes Freightliner acquisition. Railway Gazette , March 26, 2015, accessed May 9, 2015 .
- ^ Genesee & Wyoming Inc. to Be Acquired by Brookfield Infrastructure and GIC in $ 8.4 Billion Transaction. Genesee & Wyoming, July 1, 2019, accessed on January 18, 2020 (press release from Genesee & Wyoming Inc.).
- ^ Genesee & Wyoming Announces Completion of Sale to Brookfield Infrastructure and GIC. Genesee & Wyoming, December 30, 2019, accessed on January 18, 2020 (press release from Genesee & Wyoming Inc.).
- ↑ a b Mark Carter: New owners confirmed for G&W Australia. In: IRJ International Railway Journal. August 9, 2019, accessed on July 17, 2020 .
- ↑ a b Mark Carter: Genesee & Wyoming Australia renamed One Rail Australia following acquisition. In: IRJ International Railway Journal. February 17, 2020, accessed on July 17, 2020 .
- ↑ Surface Transportation Board: Docket No. AB 449 (Sub-No. 3X): Western Kentucky Railway, LLC — Abandonment Exemption ― in Webster, Union, Caldwell and Crittenden Counties, Ky. (PDF; 63 kB)