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Article: Mexican government awards strategically important rail link to joint venture of Transportacion Maritima Mexicana, S.A. de C.V. and Kansas City Southern Industries.
- Article from:
- Business Wire
- Article date:
- December 6, 1996
CopyrightCOPYRIGHT 1996 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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MEXICO CITY--(BUSINESS WIRE)--Dec. 6, 1996--Transportacion Maritima Mexicana, S.A. de C.V. ("TMM") (NYSE: TMM/TMM.A), Latin America's largest integrated transportation company, and Kansas City Southern Industries Inc. ("KCSI") (NYSE: KSU), owner of a Class I U.S. rail carrier (Kansas City Southern Railway), today announced that their joint venture, Transportacion Ferroviaria Mexicana ("TFM"), has been awarded by the Mexican government the concession to operate Mexico's Ferrocarril del Noreste ("Northeast Railway").
The concession provides for the operation of the Northeast Railway for 50 years with the option of an additional 50-year extension.
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