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Passenger Trains > Iowa Pacific sells Permian Basin lines to WatcoDate: 05/20/15 09:14 Iowa Pacific sells Permian Basin lines to Watco Author: GenePoon Not strictly passenger-related, but it involves a passenger
railroad holding company, Iowa Pacific: ====================================== Watco to acquire two Iowa Pacific shortlines TRAINS.com May 18, 2015 PITTSBURG, Kan. – Watco Companies will acquire the assets of two shortline railroads from Iowa Pacific Holdings, the Texas New Mexico Railroad and West Texas & Lubbock Railroad. The new railroads, owned by Watco Transportation Services, will be the Texas & New Mexico Railway, which will take over operations of the rail line currently operated by Texas New Mexico, and the Lubbock & Western Railway, which will take over the rail line currently operated by West Texas & Lubbock. The new Texas & New Mexico Railway railroad extends from a Union Pacific connection at Monahans, Texas, to Lovington, N.M. The railroad serves the oil fields of west Texas and southeast New Mexico. The primary commodities shipped on the line are oilfield chemicals and minerals, construction aggregates, industrial waste, and scrap. The Lubbock & Western Railway is divided into two segments; the most northern segment runs from just north of Dimmitt, Texas, to Plainview, Texas, and the second segment runs west from Lubbock, Texas, to Whiteface, Texas, and southwest from Lubbock to Seagraves. The Lubbock & Western ships commodities such as fertilizer, construction aggregates, grain, cotton, chemicals, peanuts, and plastics. “We see this addition of the two Permian Basin lines as a tremendous growth opportunity for Watco,” says Stefan Loeb, executive vice president and chief marketing officer. “These two new railroads are a perfect addition to allow us to better serve our Texas customers. Full story: Watco to acquire two Iowa Pacific shortlines Date: 05/20/15 19:35 Re: Iowa Pacific sells Permian Basin lines to Watco Author: Amfleeter Odd for IP to sell over two hundred miles of trackage. Wonder if profits have taken a hit on these two and IP is looking to cut its losses - perhaps to purchase new trackage somewhere else that might be more profitable? If not that, I would be slightly concerned for IP. Who knows.
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