DARIEN, Conn. & LONDON--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today announced that its UK subsidiary Freightliner Heavy Haul Ltd has signed a long-term, bulk rail-haulage contract with Mendip Rail Ltd, a joint venture between two of the UK’s largest aggregate/cement producers, Hanson Aggregates and Aggregate Industries (AI).
Under the new contract, commencing in November 2019, Freightliner will haul an expected eight million tons per year (approximately 107,000 annual carloads) of aggregate to terminals in London and the Southeast of England from quarries owned by Hanson and AI in the Mendips, Northern Somerset. As part of the contract, Freightliner will purchase eight locomotives from Mendip Rail, which is expected to occur prior to year-end 2018.
“With this new contract, Freightliner is privileged to serve two customers that are critical to the UK construction market, and we are committed to the customer-focus and service reliability that defines all of our operations,” said Freightliner Chief Executive Officer Gary Long. “By adding one of the largest bulk haulage contracts in the UK, we are also adding to the foundation of our long-term bulk business as we have successfully replaced traffic losses caused by the collapse of the UK coal industry in 2015.”
About G&W
G&W owns or leases 121 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.
- G&W’s seven North American regions serve 41 U.S. states and four Canadian provinces and include 115 short line and regional freight railroads with more than 13,000 track-miles.
- G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
- G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.
G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Genesee & Wyoming's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
