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Article: Alcoa Completes Sale of Four Railroads to RailAmerica for $77.5 Million in Cash; Signs Long-Term Service Agreements for Alcoa Plants.
- Article from:
- Business Wire
- Article date:
- October 3, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PITTSBURGH -- Alcoa (NYSE:AA) announced today that it has finalized the sale of four railroads to RailAmerica Transportation Corp., a subsidiary of RailAmerica Inc. (NYSE:RRA) for a purchase price of $77.5 million in cash. As part of the transaction, Alcoa and RailAmerica have entered into long-term service agreements under which RailAmerica will continue to provide services to Alcoa facilities that currently rely on the railroads.
The railroads acquired by RailAmerica are:
--Bauxite & Northern Railway Co. (BXN) in Bauxite, Ark.
--The Massena Terminal RR Co. (MSTR) in Massena, N.Y.
--Point Comfort & Northern Railway Co. (PCN) in Point ...