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Kansas City Southern and Texas Mexican Railway merge to form NAFTA RAIL!?

Discussion in 'Metal Heads' started by fr8lover, Apr 21, 2003.

  1. fr8lover

    fr8lover Elite Member

    Joined: Oct 22, 2000 Messages: 3,919 Likes Received: 1
    K.C. Southern, Grupo TMM to Form Railway
    Associated Press

    KANSAS CITY, Mo. -Kansas City Southern Industries Inc. and Mexico's Grupo TMM SA have agreed to combine their railways to form NAFTA Rail.

    Under the deal announced Monday, Kansas City Southern will change its name to NAFTA Rail and manage Kansas City Southern Railway Co., Texas Mexican Railway Co. and TFM. The new holding company will be based in Kansas City.

    The transaction must be approved by regulators in both countries and shareholders.

    The railroads already were linked physically. Kansas City Southern also has significant investments in the Mexican railways.

    The deal calls for TMM Multimodal, a subsidiary of Grupo TMM, to receive 18 million shares, or 22 percent of the new company, $200 million in cash and a potential incentive payment of between $100 million and $180 million.

    Shares of Kansas City Southern fell 71 cents to close at $11.06 in trading Monday on the New York Stock Exchange. Shares of Grupo TMM rose 3 cents to close at $3.74.

    Michael R. Haverty, Kansas City Southern's chairman, president and chief executive officer, will hold the same positions with the new company. Jose Serrano, chairman and chief executive officer of Grupo TMM, will serve as vice chairman of NAFTA Rail.

    Haverty said common control of the three railroads will make NAFTA Rail a stronger competitor in the hauling of goods between the United States, Mexico and Canada.
     
  2. Cup 'O Soup

    Cup 'O Soup Senior Member

    Joined: Jan 29, 2001 Messages: 2,051 Likes Received: 0
    I just read that today at the TRAINS MAGsite.
    There was an article at theBLE site that said UP might attemp to acquire KCS also, but it sounded like it won't happen for a while.
     
  3. cheesecurd

    cheesecurd Guest

    sounds like everyone wants kcs. hopefully this will make it easier to hop across the border with dirt schwag.
     
  4. boogie hands

    boogie hands 12oz Legend

    Joined: Feb 15, 2001 Messages: 16,059 Likes Received: 13
    kcs has some damn cool autoracks....other than that those things never make it out here so whoopity doo...
     
  5. patatasbrava

    patatasbrava Junior Member

    Joined: Jun 17, 2002 Messages: 131 Likes Received: 0
    i rarely see them out here and if i do its the first thing i paint
     
  6. Cracked Ass

    Cracked Ass Veteran Member

    Joined: Oct 24, 2001 Messages: 7,898 Likes Received: 47
    What a lame fucking name for a railroad...from 2 railroads with dope names.
     
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