Rail Management Corporation
The Rail Management Corporation (RMC), until 1996 Rail Management & Consulting Corporation (RMCC), was an American holding company for the operation of shortline railway companies in the United States. The company was based in Panama City Beach . In 2005/2006 the railway companies were sold and business operations ceased.
history
Former general manager of the Chattahoochee Industrial Railroad , Kedrick Earl Durden (born September 29, 1936 in Hartford, Alabama, died April 25, 2010 in Panama City Beach, Florida), took advantage of the deregulation of rail transport made possible by the Staggers Act in 1980 United States to set up their own business.
The Rail Management Corporation was to acquire and operate rail companies in the United States. He also founded Rail Switching Services Inc. This company, which existed until 1995, was a shunting service provider for internal works traffic. The shares in the individual railway companies were generally held by the subsidiary Rail Partners with 99% and by RMC with 1%.
For the acquisition of the railway companies he cooperated with the Green Bay Packaging Corporation (GBPC). From this he took over the Little Rock and Western Railway in 1983 . In return, GBPC took a 50% stake in the company and in the railway companies that were subsequently acquired. On June 30, 1996, Durden took over the shares of Green Bay Packaging.
On June 1, 2005, all rail companies were sold to Genesee and Wyoming for $ 238.2 million. The shares in the Copper Basin Railway were sold in 2006 to the co-owner ASARCO (successor company Kennecott Copper).
Railway companies
| Surname | Seat | Acquisition | comment |
|---|---|---|---|
| AN Railway (AN) | Port St. Joe , Florida | September 1, 2002 | Hire of the Apalachicola Northern Railroad route from the St. Joe Company |
| Atlantic and Western Railway (AW) | Sanford , North Carolina | 1988 | Acquisition of Atlantic and Western Corporation |
| Bay Line Railroad (BAYL) | Panama City , Florida | January 1994 | Acquired from Stone Container Corporation |
| Copper Basin Railway (CBRY) | Hayden , Arizona | August 15, 1986 | Acquisition of 55% of the shares in the railway company previously operated by Kennecott Copper |
| East Tennessee Railway (ETRY) | Johnson City , Tennessee | 1983 | Acquisition of the East Tennessee and Western North Carolina Railroad |
| Galveston Railroad (GVSR) | Galveston , Texas | 1987 | Takeover of the operation of the Galveston Wharves Railway |
| Georgia Central Railway (GC) | Vidalia , Georgia | November 21, 1990 | Operation on purchased and leased routes from CSX Transportation |
| KWT Railway (KWT) | Paris , Tennessee | February 1987 | Operation on route purchased by CSX Transportation |
| Little Rock and Western Railway (LRWN) | Perry , AR | 1983 | acquired by Green Bay Packaging Corporation |
| M&B Railroad (MNBR) | Meridian , MS | 1997 | Acquisition of the Meridian and Bigbee Railroad from James River Corporation |
| Riceboro Southern Railway (RSOR) | 2004 | Route leased and bought from CSX Transportation | |
| Tomahawk Railroad (TR) | Tomahawk , WI | January 1, 1992 | Acquired from Packaging Corporation of America (PCA), previously Marinette, Tomahawk and Western Railway |
| Valdosta Railway (VR) | Clyattville , GA | January 1992 | Acquisition of the Valdosta Southern Railroad (VSR) |
| Western Kentucky Railway (WKRL) | Clay , Kentucky | January 1995 | Acquisition of Tradewater Railway from Costain Coal Inc. |
| Wilmington Terminal Railroad (WTRY) | Wilmington , North Carolina | October 1, 1986 | Operation of the North Carolina Ports Railway |
Web links
- Obituary for K. Earl Durden
- rail-management.com ( Memento from May 1, 2004 in the Internet Archive )
- K. Earl Durden, Rail Management Corporation, and Rail Partners, LP-Corporate Family Transaction Exemption. January 22, 2003, accessed March 18, 2019 .
literature
- Edward A. Lewis: American Shortline Railway Guide . 5th edition. Kalmbach Publishing Co., Waukesha, WI 1996, ISBN 0-89024-290-9 .
Individual evidence
- ^ Federal Register, Volume 61 Issue 125 (Thursday June 27, 1996). Retrieved March 18, 2019 .
- ^ Genesee and Wyoming, Annual Report 2006
- ↑ Don Strack: Kennecott Ray Mines Division. Retrieved March 18, 2019 (American English).