Tag: Mississippi (Page 2 of 2)

Pioneer Railcorp Shareholders Approve Merger with BRX

July 19, 2019 / WIL BALDWIN

PEORIA, Ill., July 19, 2019 /PRNewswire/ — Pioneer Railcorp (OTC: PRRR, “Pioneer”), a railroad holding company that owns short-line railroads and several other railroad-related businesses including a railroad equipment company and a contract switching services company, today announced that its shareholders have approved the previously announced definitive merger agreement with BRX Transportation Holdings, LLC (“BRX”), an entity formed by Brookhaven Rail Partners (“Brookhaven”), Related Infrastructure (“Related”) and Stephens Capital Partners LLC (“Stephens”). The proposal to approve the merger agreement and the transactions contemplated thereby was approved with voting results as follows:

Under the terms of the merger agreement, BRX will acquire through merger all of the outstanding shares of Pioneer’s Class A common stock. Shareholders other than Heartland will receive $18.81 per share in cash and the Heartland shares will be cancelled without consideration.

Consummation of the merger remains subject to various closing conditions, including operating performance by Pioneer within a specified working capital floor and debt ceiling. Subject to satisfaction of the closing conditions, the transaction is expected to close in late July 2019. Upon closing of the transaction, Pioneer will become a wholly-owned subsidiary of BRX and its Class A common stock will cease trading on the OTC Markets.

Arnold & Porter is acting as legal advisor to BRX in this transaction. BMO Capital Markets is serving as exclusive financial advisor to Pioneer in connection with this transaction and Briggs and Morgan, P.A. is acting as Pioneer’s legal advisor.

About Pioneer
Pioneer Railcorp is the parent company of 15 short-line common carrier railroad operations, an equipment leasing company, two service companies and a contract services switching company. Pioneer and its subsidiaries operate in the following states: Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Michigan, Mississippi, Ohio, Pennsylvania and Tennessee. For more information on Pioneer, please visit www.Pioneer-Railcorp.com

About Brookhaven
Brookhaven Rail Partners is an affiliate of Denver-based Brookhaven Capital Partners, a privately held, real estate and infrastructure investment and management firm. Brookhaven and its principals have a 25-year track record of investing in, operating and developing critical transportation assets that support industry, and promote new economic development, community investment, and job creation. For more information on Brookhaven, please visit www.BrookhavenPartners.com

Amtrak Customers Celebrate 90 Years of Empire Builder Service

June 13, 2019 / WIL BALDWIN

Commemorative merchandise now available

CHICAGO – Amtrak today marked the 90th anniversary of the Empire Builder, which travels across the country’s northern tier, allowing customers to experience the grandeur of the Mississippi River Valley, Great Plains, Rockies and the Cascade Range. Daily service between Chicago and the Pacific Northwest provides a vital intercity travel option connecting more than 40 communities in eight states.

Sleeping car customers received wooden train whistles from Amtrak Guest Rewards and all customers departing Chicago received commemorative certificates signed by Amtrak President & CEO Richard Anderson. Prints of a new Empire Builder painting by railroad artist J. Craig Thorpe are available in the Amtrak store and, for a limited time, other items to recognize the anniversary of the service are also availab le from Amtrak.

Inaugurated by the Great Northern Railway (GN), the first westbound Empire Builder departed Chicago on the evening of June 10, 1929, but it was christened the next day in St. Paul, Minnesota, where the GN had its headquarters and where its mainline to Seattle began. The premier service was named for James J. Hill–the “Empire Builder,” who in the late 19th century founded what became the GN.

The GN and three railroads merged in 1970 to form the Burlington Northern, which continued to operate the Empire Builder until May 1, 1971, when newly-formed Amtrak took it over and changed the route to include Milwaukee by using what is now the Canadian Pacific Railway between Chicago and St. Paul. In October 1979, it became the first overnight train to be assigned bi-level Superliner® railcars, setting a higher travel standard that continues today.

Last year, 428,854 customers rode the Amtrak Empire Builder, Trains 7/27 & 8/28.

Construction Begins on Airbus A220 Manufacturing Facility

January 17, 2019 / WIL BALDWIN

Airbus’ manufacturing growth in the United States advanced another step today in Mobile, Alabama, as construction of the company’s A220 Manufacturing Facility officially launched with a groundbreaking ceremony. The assembly line will satisfy the strong and growing U.S. demand for the A220 aircraft, the newest offering in Airbus’ commercial aircraft product line.

Tom Enders, CEO of Airbus, and Guillaume Faury, President Airbus Commercial Aircraft led the celebration and welcomed approximately 700 attendees including Airbus and other industry executives, Airbus manufacturing employees, state and national dignitaries, and local community leaders.

The new assembly line, which is the company’s second U.S.-based commercial aircraft production facility, will be located at the Mobile Aeroplex at Brookley adjacent to the A320 Family production line and will facilitate assembly of A220-100 and A220-300 aircraft for U.S. customers. Aircraft production is planned to begin in Q3 2019; with first delivery of a Mobile assembled A220 aircraft scheduled for 2020. The new A220 production facilities will be complete by next year.

Airbus has strong and longstanding ties to the United States, with Airbus aircraft being operated by the largest airlines in America. Additionally, Airbus is a major partner of U.S. aerospace companies and workers. In the last three years, Airbus spent $48 billion in the United States with hundreds of U.S. suppliers in more than 40 states, translating into Airbus support of more than 275,000 American jobs. Among its facilities in the U.S. Airbus has: engineering centers in Kansas and Alabama; a major training facility in Florida and soon one in Colorado; materials support and headquarters in Virginia; an A320 Family assembly line delivering aircraft in Alabama; an innovative think tank (A3 ) in California; a drone data analysis business (Airbus Aerial) in Atlanta, Georgia; helicopter manufacturing and assembly facilities in Texas and Mississippi; and a satellite manufacturing facility (OneWeb) in Florida.

The A220 is the only aircraft purpose-built for the 100-150 seat market; it delivers unbeatable fuel efficiency and true widebody comfort in a single-aisle aircraft. The A220 brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines to offer at least 20 percent lower fuel burn per seat compared to previous generation aircraft. With a range of up to 3,200 nm (5920 km), the A220 offers the performance of larger single-aisle aircraft.

With an order book of more than 500 aircraft to date, the A220 has all the credentials to win the lion’s share of the 100- to 150-seat aircraft market estimated to represent at least 7,000 aircraft over the next 20 years.

Story and image from http://www.airbus.com

Pioneer Railcorp Shareholders Approve Merger with BRX

Amtrak Customers Celebrate 90 Years of Empire Builder Service

Commemorative merchandise now available

Construction Begins on Airbus A220 Manufacturing Facility

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