$URAL United Rail, Inc. Acquires New England Sout
Post# of 42
(Total Views: 306)
Posted On: 02/25/2019 9:04:13 AM
$URAL
United Rail, Inc. Acquires New England Southern RailwayPress Release | 02/25/2019
LAS VEGAS, NV, Feb. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – United Rail, Inc. (OTCPK: URAL) , a short line railroad consolidator and owner of the SmartRail brand for electronic Precision Railroading and brand licensor, today announced that it has acquired the New England Southern Railroad, a freight short line railroad, located in Concord, New Hampshire.
New England Southern (NES) is a short-line railroad operator and provides a variety of value-added rail transportation services including transloading, private industrial rail car switching and rail car storage. NES leases and operates approximately 22 miles of rail lines in the Concord area.
“Our plan is to consolidate the smaller and sometimes overlooked short lines and consolidate them under the United Rail banner,” said Michael Barron, CEO of United Rail.
Mr. Barron added, “We plan to aggressively grow our presence in other markets. With the inclusion of the NES under the United Rail umbrella, we now have a presence in the Northeast, an area where we feel there are great growth opportunities.”
Danielle M. Mitchell, EVP Business Development for United Rail, stated, “We have been looking for some time to find a partner in this region 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.”
United Rail will now await final operating authority from the state to begin operations. No financial details of the all cash transaction were disclosed.
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.
United Rail, Inc. Acquires New England Southern RailwayPress Release | 02/25/2019
LAS VEGAS, NV, Feb. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – United Rail, Inc. (OTCPK: URAL) , a short line railroad consolidator and owner of the SmartRail brand for electronic Precision Railroading and brand licensor, today announced that it has acquired the New England Southern Railroad, a freight short line railroad, located in Concord, New Hampshire.
New England Southern (NES) is a short-line railroad operator and provides a variety of value-added rail transportation services including transloading, private industrial rail car switching and rail car storage. NES leases and operates approximately 22 miles of rail lines in the Concord area.
“Our plan is to consolidate the smaller and sometimes overlooked short lines and consolidate them under the United Rail banner,” said Michael Barron, CEO of United Rail.
Mr. Barron added, “We plan to aggressively grow our presence in other markets. With the inclusion of the NES under the United Rail umbrella, we now have a presence in the Northeast, an area where we feel there are great growth opportunities.”
Danielle M. Mitchell, EVP Business Development for United Rail, stated, “We have been looking for some time to find a partner in this region 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.”
United Rail will now await final operating authority from the state to begin operations. No financial details of the all cash transaction were disclosed.
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.
(0)
(0)United Rail, Inc. (URAL) Stock Research Links
Scroll down for more posts ▼