Genesee & Wyoming Welcomes Grupo México Transportes as Proposed New Partner in CG Railway Joint Venture
JACKSONVILLE, Fla., January 02, 2024--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) is pleased to welcome Grupo México Transportes (GMXT) as a new partner in its CG Railway, LLC (CGR) joint venture, pending receipt of regulatory approvals for their purchase of equity interests in CGR.
G&W initially formed a joint venture with SEACOR Holdings Inc. in 2017 to own and operate CGR, which has provided rail-ferry service between the ports of Mobile, Alabama, and Coatzacoalcos, Veracruz, across the Gulf of Mexico since 2001. Last week, GMXT announced its intention to purchase SEACOR’s stake in CGR and become G&W’s new joint venture partner for CGR.
"This further strengthens our partnership with GMXT, a leader in rail transportation services in Mexico with a strong presence in the southern U.S., including 13 ports between the two countries," says Michael Miller, CEO for G&W North America. "Their network access and expertise, coupled with G&W’s ability to deliver safe and customer-centric first- and last-mile rail service, will enhance CGR’s overall service offering while extending the reach of CGR’s efficient and secure rail service into and out of Mexico."
CGR’s service advantages include three-day port-to-port transit time, an expedited customs clearance process and minimal exposure to pilferage while in transit on the Gulf of Mexico. To learn more about the operation, visit cgrailway.com.
About Genesee & Wyoming Inc.
G&W owns or leases more than 100 freight railroads with 7,300 employees serving 3,000 customers in North America and the UK/Europe. The company’s North American operations serve 43 U.S. states and five Canadian provinces over more than 13,000 track-miles. G&W subsidiaries and joint ventures also provide rail service at more than 30 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, and industrial railcar switching and repair. G&W is owned by Brookfield Infrastructure Partners, L.P. and GIC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240102680138/en/
Contacts
Tom Ciuba
Vice President of Communications
(203) 202-8926
Tom.Ciuba@gwrr.com
