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Norfolk Southern to acquire part of D&H rail line
Published: Fri, 2014-11-21 13:58-
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A $217 million deal
Norfolk Southern Corp. (NS) and the Delaware & Hudson Railway Co. (D&H), a subsidiary of Canadian Pacific Railway (CP) recently announced a proposed transaction under which NS would acquire 282.55 miles of D&H rail line between Sunbury, Pa., and Schenectady, N.Y.
The $217 million sale, subject to approval by the U.S. Surface Transportation Board, would benefit customers, competition, and jobs in the northeastern United States.
“Acquiring this portion of the D&H provides for a more efficient rail transportation system by consolidating freight operations with a single carrier,” said NS CEO Wick Moorman. “Aligning the D&H track with Norfolk Southern’s 22-state network allows us to connect businesses in central Pennsylvania, upstate New York and New England with domestic and international markets while enhancing the region’s competitive rail and surface transportation market.”
The lines to be acquired connect with NS’ network at Sunbury, Pa., and Binghamton, N.Y., and would give NS single-line routes from Chicago and the southeastern United States to Albany, N.Y., and NS’ recently built Mechanicville, N.Y., intermodal terminal.
NS also would gain an enhanced connection to its joint venture subsidiary Pan Am Southern, which services New England markets. Additionally, NS would acquire D&H’s car shop in Binghamton along with other facilities along the corridor.
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