Press release from PR Newswire
RailAmerica, Inc. Reports November 2012 Carloads
Thursday, December 13, 2012
RailAmerica, Inc. Reports November 2012 Carloads06:30 EST Thursday, December 13, 2012JACKSONVILLE, Fla., Dec. 13, 2012 /PRNewswire/ -- RailAmerica today reported that its total freight carloads for the month ended November 30, 2012 were 70,877, up 1.9% from 69,541 in November 2011.On October 1, 2012, RailAmerica, Inc. (RailAmerica) was acquired by Genesee & Wyoming Inc. (GWI) (NYSE: GWR) and simultaneously deregistered its common stock and delisted from the New York Stock Exchange. Immediately following the closing of the acquisition, control of RailAmerica was placed into a voting trust with R. Lawrence McCaffrey appointed as trustee. The voting trust will remain in effect until the STB issues its decision on the Company's application to control RailAmerica's railroads. Based on the Company's application and the statutory STB review periods for minor transactions, the STB decision will be issued no later than January 4, 2013, which by statute would be effective no later than February 3, 2013. For the pendency of the voting trust, GWI will account for its ownership of RailAmerica under the equity method of accounting and RailAmerica will continue to report its carloadings independent of those of GWI. This press release is posted on RailAmerica's website, www.railamerica.com. GWI's carload press release can be found on www.gwrr.com.The Company increased shipments in November 2012 in seven out of twelve commodity groups compared to November 2011. The largest increases were in Chemicals and Agricultural Products. Chemicals traffic increased primarily in the Midwest region due to increased shipments of fertilizer and carloads from Marquette Railroad, which was acquired on May 1, 2012. Agricultural Products were up primarily due to increased shipments of corn and soybeans in the West, Central and Southeast regions. The largest declines were in Coal and Metallic Ores and Metals. Coal decreased primarily due to lower shipments in the Central and Southeast regions. Metallic Ores and Metals shipments declined primarily due to reduced ingot and plate shipments in the Northeast and Southeast regions. November 2012 carloads include 1,689 carloads from acquisitions. On a "same railroad" basis, carloads decreased 0.5%. RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 45 individual railroads with approximately 7,500 miles of track in 28 U.S. states and three Canadian provinces.RailAmerica, Inc.Carload Comparisons by Commodity GroupMonth Ended November 30, 2012 and 2011, respectivelyNovemberQTD NovemberCommodity Group20122011% Chg20122011% ChgCoal12,11113,393-9.6%22,92927,319-16.1%Agricultural Products11,65710,31113.1%26,48120,86626.9%Chemicals8,4057,02119.7%16,84814,36717.3%Non-Metallic Minerals and Products6,6596,988-4.7%13,89614,355-3.2%Pulp, Paper & Allied Products5,2284,74310.2%11,0589,64214.7%Forest Products4,6884,03416.2%9,7018,05020.5%Waste & Scrap Materials4,5605,017-9.1%8,93210,500-14.9%Metallic Ores and Metals4,2855,548-22.8%8,94811,936-25.0%Food or Kindred Products4,2225,016-15.8%8,9569,905-9.6%Petroleum3,9223,34217.4%7,7376,10426.8%Other3,2992,77319.0%7,2555,22039.0%Motor Vehicles1,8411,35535.9%3,9692,69547.3%TOTAL70,87769,5411.9%146,710140,9594.1%Less WCOR and MQTR*(1,689)(3,104)Same Railroad69,18869,541-0.5%143,606140,9591.9%* Wellsboro and Corning Railroad (WCOR), and Marquette Railroad (MQTR). Represents 100% of WCOR carloads, which is 70% owned by RailAmerica. CONTACT: Donia Crime, +1-904-645-6200, Cell, +1-404-271-1437SOURCE RailAmerica, Inc.