Railtex, Inc. - RTEX- Profile

RailTex, Inc. operates short line freight railroads in North America based on total track miles and the number of railroads operated. The company's holdings include short line railroads concentrated in the Southeastern and Midwestern United States. They generate revenue from freight and non-freight activities. Rail traffic are categorised as interline traffic, local traffic and bridge traffic . The company transports lumber and forest products, coal, chemicals, scrap paper and paper products, scrap metal and metal products farm products, non-metallic ores, food products, petroleum products, minerals and stone and others. Non-freight operating revenues include switching, demurrage, car hire, car repair and track maintenance services. During 1998 the company acquired Central Properties Inc and ten miles of track in two separate five mile sections from the Burlington Northern and Santa Fe Railway. The company has incurred $175,000 on year 2000 expenses till december 1998. In 1999, the company entered into an agreement and plan of merger with RailAmerica, Inc. and Cotton Acquisition Corp. Freight revenues accounted for 86% of 1998 revenues and switching, demurrage, car hire and other, 14%.