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First publish date: 05-26-2006
LNAC Purchased by Lucas Oil Products
Lucas Oil Rail Lines Inc., a newly formed subsidiary of Lucas Oil Products Inc., has acquired the Louisville New Albany & Corydon Railroad for an undisclosed amount.
Corona-based Lucas Oil Products Inc., a manufacturer of petroleum additives and oils, operates a blending and bottling facility in Corydon, Indiana.
Employees of the LNA&C Railroad will work part-time operating the railroad and part time at the Corydon plant, according to a news release from Harrison County Economic Development Corp.
"Our purchase of the railroad will keep our company in Corydon as well as several other companies, and it will make it possible for still additional companies to locate here that would need the service of a railroad," Forrest Lucas, president and CEO of Lucas Oil Products, said in the release.
The short line railroad lost a significant amount of business when Tower Automotive closed its Corydon facility last summer.
"The previous owners did an excellent job building up the traffic over the years, and they provided outstanding service to all of their customers, but with the traffic today, we were very concerned about its future," Darrell Voelker, director of the Harrison County Economic Development Corp., said in the release.
The railroad interconnects with the Norfolk-Southern Railway seven miles north of Corydon at Corydon Junction.