$XTRN United Rail Inc. Acquires U S Rail Holdings
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Posted On: 08/23/2018 9:58:37 AM
$XTRN United Rail Inc. Acquires U S Rail Holdings for $4.5 MillionPress Release | 08/23/2018
LAS VEGAS, NV, Aug. 23, 2018 (GLOBE NEWSWIRE) --
via NEWMEDIAWIRE -- United Rail, Inc. (OTCPK: XTRN), a short line railroad consolidator and owner of the X Train brand and brand licensor, today announced that it has acquired U S Rail Holdings, a freight short line railroad, located in Toledo, Ohio.
U S Rail Holdings (USRH) is a short-line railroad operator and provides a variety of value-added rail transportation services including transloading, private industrial rail car switching, track maintenance services, rail car repair, and rail car storage. USRH leases and operates approximately 72 miles of rail lines in the Kokomo, Indiana area.
“Our plan is to consolidate the smaller and sometimes overlooked short lines and consolidate them under the United Rail Inc. banner,” said Michael Barron, CEO of United Rail Inc.
Mr. Barron added, “We plan to aggressively grow our presence in other markets. With the inclusion of USRH under the United Rail Inc. umbrella, we now have a pathway to effectively reach those small railroad companies who wish to sell.”
Danielle M. Mitchell, CEO of USRH and the new EVP of Business Development for United Rail Inc., stated, “We have been looking for some time to find a partner with the same vision as we have for the consolidation of these small short lines. Now with this deal, we will have a leg up on contacting and closing these rail properties and afford the sellers a path to liquidity. We are very pleased to be part of the exciting program United Rail Inc. has planned.”
The Toledo offices of U S Rail will now become the operations hub for the acquired companies into the United Rail network. United Rail already has developed a pipeline of prospective companies and expects to have five such railroads under the United network by the end of the year.
About United Rail Inc.
United Rail, Inc. is in the business of acquiring short line railroads in the freight operations space. The company has been active in this space for several years. It has operated both passenger rail excursions and short line freight operations and plans to develop rail infrastructure projects and terminal operations.
LAS VEGAS, NV, Aug. 23, 2018 (GLOBE NEWSWIRE) --
via NEWMEDIAWIRE -- United Rail, Inc. (OTCPK: XTRN), a short line railroad consolidator and owner of the X Train brand and brand licensor, today announced that it has acquired U S Rail Holdings, a freight short line railroad, located in Toledo, Ohio.
U S Rail Holdings (USRH) is a short-line railroad operator and provides a variety of value-added rail transportation services including transloading, private industrial rail car switching, track maintenance services, rail car repair, and rail car storage. USRH leases and operates approximately 72 miles of rail lines in the Kokomo, Indiana area.
“Our plan is to consolidate the smaller and sometimes overlooked short lines and consolidate them under the United Rail Inc. banner,” said Michael Barron, CEO of United Rail Inc.
Mr. Barron added, “We plan to aggressively grow our presence in other markets. With the inclusion of USRH under the United Rail Inc. umbrella, we now have a pathway to effectively reach those small railroad companies who wish to sell.”
Danielle M. Mitchell, CEO of USRH and the new EVP of Business Development for United Rail Inc., stated, “We have been looking for some time to find a partner with the same vision as we have for the consolidation of these small short lines. Now with this deal, we will have a leg up on contacting and closing these rail properties and afford the sellers a path to liquidity. We are very pleased to be part of the exciting program United Rail Inc. has planned.”
The Toledo offices of U S Rail will now become the operations hub for the acquired companies into the United Rail network. United Rail already has developed a pipeline of prospective companies and expects to have five such railroads under the United network by the end of the year.
About United Rail Inc.
United Rail, Inc. is in the business of acquiring short line railroads in the freight operations space. The company has been active in this space for several years. It has operated both passenger rail excursions and short line freight operations and plans to develop rail infrastructure projects and terminal operations.
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