Maine Governor Adds Name to Growing List of Supporters of the CSX/Pan Am Merger
JACKSONVILLE, Fla., July 29, 2021 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) announced today that its proposed merger with New England’s Pan Am Railway’s Inc. (Pan Am) gained additional support
from Maine Governor Janet Mills as well as four shippers, two municipalities, and one member of the New York State Assembly who all filed letters with the Surface Transportation Board (STB)
enthusiastically backing the deal.
The transaction will provide significant benefits to shippers, passenger rail users, and local communities as CSX integrates Pan Am into its best-in-class network. In particular, as CSX connects more of New England with its existing 23-state network, which serves two thirds of the nation’s population, CSX’s expected investment in infrastructure upgrades will improve freight and passenger rail service and further enhance the environmental sustainability of rail transportation in New England by shifting truck traffic off the highway.
Governor Mills wrote to the STB of her strong support for the merger, saying, “This transaction has the potential to bring substantial benefits to Maine. The state of Maine relies on rail traffic to deliver goods and support our economy. If the transaction is approved, CSX has indicated that it will make upgrades to track and locomotives to provide improved service, extend positive train control on Amtrak's Downeaster, and make other improvements to the rail network. These changes would benefit Maine businesses and shippers that rely on freight rail to ship products and goods and positively impact passenger rail service.”
Mark Gasbarro, owner and president of Massachusetts-based F&M Tool and Plastics, said his company “looks forward to the improved service that we will receive from CSX following the approval by the Surface Transportation Board of the merger.”
Mr. Gasbarro’s company wasn’t the only one adding support to the nearly 90 customers, elected officials, and state and local governments that have already said this deal is in the best interest of New England freight and passenger rail transportation. In addition to F&M Tool and Plastics of Leominster, MA, Brunswick Valley Lumber of Fredericton, New Brunswick, Canada, and Cooperative Reserve Supply of North Billerica, MA join a growing list of shippers that have publically announced their support for the transaction. Saratoga Country, NY and the City of Mechanicville, NY also joined the growing chorus of support for the transaction.