The Heart of Texas Railroad, running 68 miles of track from Lometa, Texas to Brady, Texas is being purchased by an unnamed OmniTRAX, Inc. affiliate. The new name of the line will be Central Texas & Colorado River Railway, LLC and it plans to focus on aggregate, sand and cement customers.
According to Kevin Shuba, CEO of OmniTRAX, “as a distressed asset that can be turned around with our expertise, it’s right in our sweet spot.” He added, “we want to thank the sellers for their efforts in starting to implement a restructuring plan and making the closing of the transaction as smooth as possible.” Although the transaction is in progress, it remains subject to STB approval.
There are no comments yet, but you can be the first