by Farmer Joe
Anyone have info or theories on how CN might get to its new B&LE trackage in PA? Will they get trackage rights out of Buffalo? I have not heard anything on this lately. Wild speculations are welcome.
craltoona wrote:Transtar is a company out of Monroeville, PA. They own the Union Railroad of Pittsburgh, the Bessemer and Lake Erie, Pittsburgh and Conneaut Dock Company (conneaut port) and the Duluth Messabi and Iron Range Railway (shops at Proctor MN).Interesting. I did not know that the Union Railroad was involved in this. And I just went back a re-read the latest STB filing and it appears that the Union Railroad is not involved in this transaction.
The Board approves, subject to conditions, the acquisition, by Canadian National Railway Company, of control of Duluth, Missabe and Iron Range Railway Company, Bessemer and Lake Erie Railroad Company, and The Pittsburgh & Conneaut Dock Company.Do you have any information that says the CN is going to get Union Railroad too?
Ron Mele wrote:Actually, the Union Railroad has nothing to do with the CN buyout of the Bessemer. The Union, along with the Birmingham Southern, EJ&E, Lake Terminal and a few other holdings, are owned by Transtar. The B&LE, Missabe, and P&C Dock are owned by Great Lakes Transportation, a holding company owned by Blackstone Capital Partners. Blackstone was at one time the majority owner of Transtar, with US Steel as a minority partner. Then, a few years ago, US Steel spun off the GLT properties and took 100% control of Transtar. Blackstone sold all their former Transtar holdings to CN.Thanks for clearing that up, Ron!