Formerly | Guilford Transportation Industries |
---|---|
Company type | Private |
Industry | rail transport manufacturing and energy transportation related brands real estate |
Founded | 1998 |
Founder | Timothy Mellon |
Defunct | June 1, 2022 |
Fate | Acquired by CSX Corporation |
Headquarters | , |
Subsidiaries |
|
Pan Am Systems was a privately held Portsmouth, New Hampshire-based [1] Florida corporation composed of rail transport, manufacturing and energy, transportation related brands, and real estate divisions. [2] It formerly held a now-defunct airline division.
Pan Am Systems was put up for sale in July 2020. [3] On November 30, 2020, CSX Corporation announced that it had signed a definitive agreement to purchase Pan Am Systems. The sale of Pan Am Systems to CSX underwent regulatory review by the Surface Transportation Board, [4] [5] which approved the sale on April 14, 2022. [6] At midnight on June 1, 2022, CSX began operating Pan Am Systems and its Pan Am Railways; also, Pan Am Systems was merged into a temporary subsidiary of CSX which will eventually merge into CSX.
Guilford Transportation Industries (GTI) was formed in 1981. GTI entered the railroad business in 1981 with its purchase of the Maine Central Railroad Company from U.S. Filter Corporation. This was followed by its 1983 purchase of the Boston & Maine Railroad, and in 1984 it purchased the Delaware and Hudson Railway (D&H). In 1988, GTI declared D&H bankrupt. D&H employees took it over, with the New York, Susquehanna & Western Railway managing it. The employees then sold out in 1991 to the Canadian Pacific Railway.
GTI purchased the name, colors, and logo of Pan American World Airways in 1998 and Pan Am Systems was established that same year. In March 2006, GTI changed its name to Pan Am Railways.
The company was privately owned by Timothy Mellon, an heir to the Mellon banking fortune, and several other stakeholders including former Penn Central employee David Fink and son David A. Fink.
In July 2020, Pan Am Systems was put up for sale. [3] On November 30, 2020, an agreement was announced for CSX Corporation (parent company for CSX Transportation) to acquire Pan Am Systems. Norfolk Southern expressed concern about possible impacts on competition. The sale was proposed as follows: CSX will own and operate between Mattawamkeag, ME and Ayer, MA. Between Ayer and Rotterdam, NY, Genesee and Wyoming Rail will be the operating party. This means the track will be owned by CSX, but CSX will not dispatch it. Also, Norfolk Southern will keep its 49% stake in Pan Am Southern (PAS). With the sale, the intermodal traffic between Mechanicville and Ayer will be re-routed over the B&A to Worcester, MA. From there the traffic will come up the Worcester main and into Ayer Yard. [7]
On March 25, 2021, after numerous letters questioning CSX's acquisition of Pan Am Railways parent Pan Am Systems from the Massachusetts Bay Transportation Authority, the Massachusetts Department of Transportation, the Commonwealth of Massachusetts, Vermont Rail System, as well as many other local political figures and community leaders from other New England states, the Surface Transportation Board ruled the acquisition as "Significant" meaning that a more rigorous review process would be necessary. [8]
On April 30, 2021, CSX submitted a 478-page plan of purchase outlining a broad range of topics, from implementations of track upgrades to the controversial issue of Norfolk Southern intermodal routing, as well as the fate of Pan Am's hodgepodge fleet of aging motive power, which is made up of EMD and GE locomotives from railroads such as Conrail, NS, CSX, the Milwaukee Road, and Kansas City Southern. [9]
On May 26, 2021, the federal regulators of the Surface Transportation Board rejected CSX's purchase application, deeming it "incomplete." The board cited "contradictions" and "lack of necessary information" to properly judge the acquisition, and therefore could not rule on the matter. While CSX has the option of re-submitting a revised application, which it has motioned toward in its official statement, the transaction stands on uncertain ground. [10] [11]
On July 30, 2021, the Surface Transportation Board accepted a revised merger application for consideration, allowing CSX to move forward with the acquisition on Pan Am Systems. The decision determined that an environmental and historic review are unnecessary and establishes criteria for additional filings, public comments, and a deadline for a final Surface Transportation Board decision. [12] [13]
The STB approved the sale of Pan Am Systems to CSX on April 14, 2022, [14] for $600 million. [15] At midnight on June 1, 2022, CSX began operating Pan Am Railways and Pan Am Systems was merged into a temporary subsidiary of CSX called 747 Merger Sub 2 which will become the new Pan Am Systems, the new Pan Am Systems and Pan Am Railways will eventually merge into CSX.
Mattawamkeag is a town in Penobscot County, Maine, United States, located where the Mattawamkeag River joins the Penobscot River. The population was 596 at the 2020 census. The village of Mattawamkeag is in the southwestern part of the town.
The Boston and Maine Railroad was a U.S. Class I railroad in northern New England. Originally chartered in 1835, it became part of what was the Pan Am Railways network in 1983.
CSX Transportation, known colloquially as simply CSX, is a Class I freight railroad company operating in the Eastern United States and the Canadian provinces of Ontario and Quebec. Operating about 21,000 route miles (34,000 km) of track, it is the leading subsidiary of CSX Corporation, a Fortune 500 company headquartered in Jacksonville, Florida.
The Norfolk Southern Railway is a Class I freight railroad operating in the Eastern United States. Headquartered in Atlanta, the company was formed in 1982 with the merger of the Norfolk and Western Railway and Southern Railway. The company operates 19,420 route miles (31,250 km) in 22 eastern states, the District of Columbia, and has rights in Canada over the Albany to Montreal route of the Canadian Pacific Kansas City. Norfolk Southern Railway is the leading subsidiary of the Norfolk Southern Corporation.
The Hoosac Tunnel is a 4.75-mile (7.64 km) active railroad tunnel in western Massachusetts that passes through the Hoosac Range, an extension of Vermont's Green Mountains. It runs in a straight line from its east portal, along the Deerfield River in the town of Florida, to its west portal, in the city of North Adams.
CSX Corporation is an American holding company focused on rail transportation and real estate in North America, among other industries. The company was established in 1980 as part of the Chessie System and Seaboard Coast Line Industries merger. The various railroads of the former Chessie System and Seaboard Coast Line Industries that are now owned by CSX Corporation were eventually merged into a single line in 1986 and it became known as CSX Transportation. CSX Corporation currently has a number of subsidiaries beyond CSX Transportation. Previously based in Richmond, Virginia after the merger, the corporation moved its headquarters to Jacksonville, Florida, in 2003. CSX is a Fortune 500 company.
The Maine Central Railroad was a U. S. class 1 railroad in central and southern Maine. It was chartered in 1856 and began operations in 1862. By 1884, Maine Central was the longest railroad in New England. Maine Central had expanded to 1,358 miles (2,185 km) when the United States Railroad Administration assumed control in 1917. The main line extended from South Portland, Maine, east to the Canada–United States border with New Brunswick, and a Mountain Division extended west from Portland to St. Johnsbury, Vermont, and north into Quebec. The main line was double track from South Portland to Royal Junction, where it split into a "lower road" through Brunswick and Augusta and a "back road" through Lewiston, which converged at Waterville into single track to Bangor and points east. Branch lines served the industrial center of Rumford, a resort hotel on Moosehead Lake and coastal communities from Bath to Eastport.
Pan Am Railways, Inc. (PAR) is a subsidiary of CSX Corporation that operates Class II regional railroads covering northern New England from Mattawamkeag, Maine, to Rotterdam Junction, New York. Pan Am Railways is primarily made up of former Class II regional railroads such as Boston and Maine Corporation, Maine Central Railroad Company, Portland Terminal Company, and Springfield Terminal Railway Company. It was formerly known as Guilford Transportation Industries and was also known as Guilford Rail System. Guilford bought the name, colors, and logo of Pan American World Airways in 1998.
Pan American Airways was a United States airline that operated scheduled services in the eastern US, as well as charters for tour operators and services to the Dominican Republic and to Puerto Rico.
The Greenville and Western Railway is a Class III railroad that operates 12.74 miles (20.50 km) from a point south of Belton to Pelzer, South Carolina. Connections are made with Pickens Railway at Belton and CSX at Pelzer. The railroad is a subsidiary of Western Carolina Railway Service Corporation.
Timothy Mellon is an American businessman, grandson of Andrew Mellon and an heir to the Mellon banking fortune. Mellon is a major donor to the Republican Party and right-wing causes.
The Mountain Division is a railroad line that was once owned and operated by the Maine Central Railroad (MEC). It stretches from Portland, Maine on the Atlantic Ocean, through the Western Maine Mountains and White Mountains of New Hampshire, ending at St. Johnsbury, Vermont in the Northeast Kingdom. The line was abandoned in 1983 by MEC's successor, Guilford Transportation Industries (GTI). Guilford retained a stub between Portland and Westbrook. A section in New Hampshire remains in use by heritage railway Conway Scenic Railroad.
Pan Am Southern, LLC is a freight railroad jointly owned by Norfolk Southern Railway (NS) and CSX Corporation. PAS is independently operated by the Berkshire and Eastern Railroad, a subsidiary of Genesee & Wyoming. PAS owns trackage known as the Patriot Corridor between Albany, New York, and the Boston, Massachusetts, area, utilizing rail lines formerly owned by the Fitchburg Railroad and later on the Boston and Maine Railroad. It was previously operated by PAR subsidiary Springfield Terminal Railway.
The Eastern Maine Railway Company Limited is a 99.5 mi (160.1 km) U.S. short line railroad owned by the New Brunswick Railway Company, a holding company that is part of "Irving Transportation Services", a division within the industrial conglomerate J.D. Irving Limited.
The Stony Brook Railroad, chartered in 1845, was a railroad company in Massachusetts, United States. The company constructed a rail line between the Nashua and Lowell Railroad's main line at the village of North Chelmsford and the town of Ayer, Massachusetts where it connected to the Fitchburg Railroad. Rather than running its own trains, upon opening in 1848 operations were contracted to the Nashua and Lowell; this arrangement continued until the Nashua and Lowell was leased by the Boston and Lowell Railroad in 1880. The Boston and Maine Railroad (B&M) took over operation of the Stony Brook in 1887 when it leased the Boston and Lowell Railroad. In 1983 the B&M was purchased by Guilford Rail System, which renamed itself Pan Am Railways (PAR) in 2006. Passenger service last ran on the line in 1961, but it saw significant freight service under Pan Am Railways. While it never owned rolling stock or ran trains, the Stony Brook Railroad Corporation existed until 2022 as a nearly wholly owned subsidiary of the Boston and Maine, itself a PAR subsidiary. That year, it was merged into CSX Transportation as part of CSX's purchase of Pan Am Railways.
The Maine Northern Railway Company Limited is a 258 mi (415 km) U.S. and Canadian short line railroad owned by the New Brunswick Railway Company, a holding company that is part of "Irving Transportation Services", a division within the industrial conglomerate J.D. Irving Limited.
Berkshire and Eastern Railroad (B&E) is a shortline railroad in New England and New York, using tracks owned by Pan Am Southern. Pan Am Southern is jointly owned by CSX Transportation (CSXT) and Norfolk Southern Railway (NS).
Railroads have played an important role in New England ever since the Granite Railway, America's first commercial railway, began operations in Massachusetts in 1826. As industrialization spread across the region, hundreds of railroads were built throughout the 19th century. Railroad mileage peaked around World War I, and from that point on mileage began to shrink. Despite this, railroads continue to be important for freight and passenger transportation in the region, with the New Haven Line holding the title of busiest railroad line in the entire United States.
The Springfield Electric Railway, affectionately referred to as the Toonerville Trolley, was an electric trolley system that operated in the town of Springfield, Vermont. The railway, which later became the Springfield Terminal Railway, was initially funded by the town in 1896 with the aim of establishing connections to the railroads passing through Charlestown, New Hampshire, across the Connecticut River. Eventually, the Boston and Maine Railroad gained control of the railway. While the trolley service ceased operations in 1947, making it the longest-running trolley in the state at that time, freight usage of the tracks ended in 1984. The Springfield Terminal name continues to exist as a subsidiary of Pan Am Railways which is now owned by CSX.
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