FORT LAUDERDALE, FL / ACCESSWIRE / August 27, 2014 / Train Travel Holdings Inc. (TTHX) announced today that it has signed an agreement with TBG Holdings for TTHX to acquire Railmark Holdings Incorporated. Headquartered in Wixom MI, Railmark is engaged in five areas within the railroad industry – Rail Operations, Rail Logistics, Railcar Repair Services, Track Construction & Repair Services and Rail Development & Planning. TBG will sell to Railmark their preferred control block of shares that will allow B.Allen Brown, Railmark's founder and shareholder, to take control of TTHX.
With Railmark controlling TTHX both companies will combine, providing TTHX shareholders with a much larger footprint in the railroad industry, both domestically and abroad. This combination will provideRailmark with greater access to capital as a public company. Throughout the years Railmark's rail and freight experience has spanned outside of the United States and into eighteen (18) other countries around the world. Many of Railmark's growth targets, business segments and both new and existing "Railmark Service Centers" will be able to utilize TTHX's business model and current operations. In the weeks ahead TTHX will make the necessary filings to change its name to Railmark Holdings Inc. and conduct all of its future business under the sixteen year-old "Railmark" brand.
With this agreement B. Allen Brown will take over as CEO and President of TTHX Immediately and with the assistance of TBG Holdings, move to combine both railroad industry companies into one. Mr. Brown's railroad career began shortly after the 1981 Staggers Act, which deregulated the US railroad industry. He has a working relationship with all of the major North American railroads, as well as hundreds of smaller railroads and industrial shippers. Mr. Brown has international rail business experience in eighteen (18) countries and Railmark maintains a presence on three continents outside of North America.
Neil Swartz, President & CEO of TBG Holdings commented "Ever since we entered into an agreement in January 2014, we wanted to find a way to bring B. Allen Brown in as CEO of TTHX and combine TTHX with Railmark. With this transaction not only do we have B. Allen Brown taking over as CEO but also we were able to have TTHX acquire the upside of all the Railmark assets, business opportunities and strategy."
B. Allen Brown, President & CEO of Railmark commented, "Railmark's customer service delivery will be greatly enhanced with this transaction and will allow us to further penetrate our key markets with railroad operations, rail logistics, rail product sales and continued international rail business development. I am excited about the combined TTHX and Railmark teams and look forward to expanding both TTHX's and Railmark's business model."
Train Travel Holdings Inc. (TTHX) is a publicly-traded company whose mission is to acquire, develop and operate passenger railroads across North America while providing passenger rail support services to a growing rail transit industry. Through a series of targeted acquisitions and organic growth, Train Travel Holdings Inc. plans to grow shareholder value. The Company's goal is to capture a significant percentage of the market share, thus establishing a dominant presence in the industry.
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SOURCE: Train Travel Holdings Inc.