Farmrail sells interest in Marquette Rail to RailAmerica
Oklahoma-based Farmrail and the six other owners sold their interests in Marquette Rail to RailAmerica in May. RailAmerica, which owns and operates 45 short-line and regional freight railroads in North America and Canada, reportedly paid $40 million for MQT. MQT serves West Michigan and operates approximately 126 miles of railroad. The primary rail route extends from connections with CSX and Norfolk Southern/Grand Elk at Grand Rapids northward to Ludington and Manistee. These lines, formerly part of the Pere Marquette Railroad network that covered most of the state’s Lower Peninsula, have been in continuous operation since 1874. Marquette Rail serves about two dozen online customers in six West Michigan counties, transporting chemicals, paperboard, grain, salt, petroleum products and other commodities. Marquette Rail also serves as a storage agent for fleet owners requiring convenient accommodations for seasonally inactive or off-lease rolling stock. Capacity is in excess of 500 railcars. Connections with both…