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STB Approves Transaction That Creates New CPKC-CSX Class I Connection Linking Mexico, Texas and the U.S. Southeast
STB Approves Transaction That Creates New CPKC-CSX Class I Connection Linking Mexico, Texas and t...
About this update from Canadian Pacific Kansas City Limited
[{"type":"text","content":"\n\n\n\n STB Approves Transaction That Creates New CPKC-CSX Class I Connection Linking Mexico, Texas and the U.S. Southeast\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n and\n \n JACKSONVILLE\n \n , Fla.\n \n ,\n \n\n Oct. 17, 2024\n \n\n /CNW/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC), CSX Corporation (NASDAQ: CSX) (CSX) and Genesee & Wyoming Inc. (G&W) today said the Surface Transportation Board (STB) has approved CSX's and CPKC's respective applications regarding their acquisition of the rail lines operated by G&W's Meridian & Bigbee Railroad, L.L.C. (MNBR), which will result in the creation of a new direct CPKC-CSX interchange connection in\n \n Alabama\n \n .\n \n\n\n\n\n\n\n\n\n Through the now-approved transaction, which was previously announced in\n \n June 2023\n \n , CPKC will acquire and operate across the 52-mile segment between\n \n Meridian, Miss.\n \n , and\n \n Myrtlewood, Ala.\n \n , currently owned by MNBR, while CSX will operate the lines currently operated by MNBR east of\n \n Myrtlewood\n \n . As a result, CPKC and CSX will establish a direct Class I-to-Class I interchange at or near\n \n Myrtlewood\n \n and connect shippers in\n \n Mexico\n \n ,\n \n Texas\n \n and the Southeast U.S. MNBR will continue to provide local service to customers between\n \n Meridian\n \n and\n \n Myrtlewood\n \n .\n \n\n \"We thank the Surface Transportation Board members for their careful consideration of this vision to create a new Class I corridor providing more efficient service for existing CPKC and CSX traffic, while introducing new competitive shipping options between\n \n Mexico\n \n ,\n \n Texas\n \n and the U.S. Southeast for our customers,\" said\n \n Keith Creel\n \n , CPKC President and CEO. \"With this new east-west Class I route, we are creating competition, providing a service that will take more trucks off the road, and growing rail transportation by expanding markets across the southern U.S., from\n \n Dallas\n \n to\n \n Atlanta\n \n and beyond.\"\n \n\n \"This new...