Covia announced that it has executed a definitive agreement to sell its Winchester and Western Railroad (W&W) to an affiliate of OmniTRAX Inc. for total proceeds of $105.0 million in cash, subject to certain adjustments set forth in the definitive agreement. As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars, which the W&W currently owns.
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This Week’s Market Buzz
• The Wisconsin Department of Natural Resources issued a permit allowing OmniTRAX Logistics Services to fill in more than four acres of wetlands in Jackson County, Wis., in order to install nearly 10 miles of track in a loop along the banks of Halls Creek, a Class II trout stream that feeds into the Black River. OmniTRAX said it will…
Read MoreOmniTRAX Acquires Assets of Terracor Group
OmniTRAX Inc. has agreed to acquire all assets of Terracor Group, a frac sand logistics company, including three transload facilities with vertical silo storage in Texas and Montana. Included in the transaction is a high-quality frac sand mining opportunity located in Wisconsin.
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The Michigan Department of Natural Resources and the Sargent Sand Co. are once again talking about a deal to acquire a piece of private property located in Ludington State Park a decade after the last talks broke down. The state would like to purchase the company’s Ludington, Mich., sand mine when the company’s five-year operating permit expires at the end…
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