Advertisement

Maryland Midland Railway agrees to be acquired by Genessee

October 23, 2007

UNION BRIDGE, Md. (AP) ? Maryland Midland Railway has agreed to be acquired by Genesee & Wyoming, a short-line railroad operator based in Greenwich, Conn.

Publicly traded Genesee says it will pay $29.1 million for about an 87 percent stake in the 70-mile railroad, which is headquartered in Union Bridge and runs from Highfield in Washington County to Glyndon in Baltimore County.

Privately held Maryland Midland and its biggest customer, Lehigh Cement, say the deal could reduce Lehigh's shipping costs by linking Maryland Midland with the York Railway, a southeastern Pennsylvania line that Genesee already owns.

Lehigh Cement will retain about 13 percent of Maryland Midland.

Advertisement
The Herald-Mail Articles
|
|
|