Just pick this up at transportnews.com:
New York Regional Rail merges with Bestsellers Group
to become key player in NYC freight transport
NEW YORK -- New York Regional Rail Corp. ("NYRR") announced this morning that it has
merged with Bestsellers Group Inc. ("BSLR"--NASD-Bulletin Board) to become the largest
intermodal freight railroad to operate in New York City.
Robert R. Crawford, president and CEO of the surviving corporate entity, NYRR, is bullish on the
future growth of rail freight and particularly, intermodal rail, throughout the NY/NJ/LI metro region.
He also indicated his optimism at the prospects of offering New York the most economical,
efficient and environmentally sound means of exporting the region's municipal solid waste, New
York City sewerage sludge and waste oil, as well as other environmentally sensitive products.
This in light of recent developments in Staten Island where it is clear that the Governor of New
York, in response to growing pressure from the New York Congressional Delegation and others,
is considering omnibus action on capping the Fresh Kills Landfill and, in consultation with Mayor
Guiliani, contemplating other ways of managing New York City's spiralling waste flows.
NYRR has assumed the operational and management control of the New York Cross Harbor
Railroad Terminal Corp. and its affiliated companies.
Providing direct rail access to the largest, most concentrated freight market in the country,
NYRR acts as the downstate region's direct link to the national rail freight network by connecting
with ConRail in New Jersey.
NYRR operates from the Greenville Yard in Jersey City, N.J. and the Bush Terminal Rail Yard in
Sunset Park, Brooklyn, as well as the Atlantic Terminal in Red Hook, Brooklyn.
In addition to the waste-related items listed above, other product moved across the Harbor
include such items as salt, rice, lumber, cement, raw plastics (for manufacturing) and an
assortment of other general freight commodities.
As part of an overall plan for regionalizing rail and intermodal rail freight, NYRR anticipates
submitting its RFP application to acquire the operations of the Long Island Rail Road Freight
Division this week.
It is forecast that with these developments, NYRR will assume a key leadership position in the
regional freight transportation network, and will have the capability of handling fully ten (10) times
the current general freight volumes for the area. |
