Genesee & Wyoming Announces Plan to Separate into Three Geographically Focused Companies

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) today announced that it is planning to separate into three distinct holding companies, effective January 1, 2027. The three companies, each under the continued ownership of Brookfield and GIC, will be:

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Genesee & Wyoming Announces Plan to Separate into Three Geographically Focused Companies

Atlantic & Great Lakes Transportation Inc., which will be made up of G&W operations in New England (including Berkshire & Eastern Railroad), New York, Ohio and Pennsylvania. Atlantic & Great Lakes will be based in Rochester and led by CEO Bill Keough, who has been with G&W for eight years and most recently served as regional senior vice president.
Canyon & Cascade Transportation Inc., which will be comprised of G&W operations in Washington, Oregon, California, Arizona and New Mexico. Canyon & Cascade will be based in Phoenix and led by CEO David Franklin, who was most recently a divisional vice president at G&W and has been with the company for 24 years.
Genesee & Wyoming Inc., which will retain the other subsidiary operations in the Midwest, Southeast and Central United States, as well as Canada – about 65% of the business as it currently exists. G&W will be based in Jacksonville and continue to be led by Michael Miller, who has served as CEO since 2023.

“Over the past several years, our focus at G&W has been on creating a culture of continuous improvement and making us nimbler in the face of accelerated market changes, technology enhancements and global complexity to ensure long-term survival and growth,” said Miller. “The divisional structure we rolled out in 2023 brought our railroads closer to customers, demonstrated by a record-setting overall customer satisfaction score in 2025, so this change is a logical evolution of that structure. We believe creating three regional businesses with dedicated operating and support teams will enable higher levels of customer service, faster decision making and deeper community engagement. Moreover, operating as three smaller, independent companies will help to drive new levels of growth and efficiency that we are unable to achieve in our current state.”

"Bill and David’s deep industry knowledge and broad operating experience, coupled with their long tenures at G&W, more than qualify them to build and grow these two sister companies to G&W,” Miller continued. “What will not change for any of the three companies is the safety-first culture and values that have enabled us to build our collective heritage over the past 127 years.”

Pending regulatory approval, the three companies are expected to begin operating independently January 1, 2027 – each with its own board of directors, leadership teams and capital structures.

Appendix A

Genesee & Wyoming Inc. Railroads and Operating States / Provinces

AGR		Alabama & Gulf Coast Railway LLC [Alabama, Florida, Mississippi]
AN		AN Railway, L.L.C. [Florida]
ALM		Arkansas Louisiana & Mississippi Railroad Company [Arkansas, Louisiana]
AKMD		Arkansas Midland Railroad Company, Inc. [Arkansas]
ATW		Atlantic and Western Railway, Limited Partnership [North Carolina]
BXN		Bauxite & Northern Railway Company [Arkansas]
BAYL		The Bay Line Railroad, L.L.C. [Alabama, Florida]
CBNS		Cape Breton & Central Nova Scotia Railway Limited [Nova Scotia]
CPDR		Carolina Piedmont Railroad [South Carolina]
CIND		The Central Railroad Company of Indiana [Indiana, Ohio]
CERA		Central Railroad Company of Indianapolis [Illinois, Indiana, Ohio]
CIRR		Chattahoochee Industrial Railroad [Georgia]
CCKY		Chattooga & Chickamauga Railway Co. [Georgia, Tennessee]
CA		Chesapeake & Albemarle Railroad [North Carolina, Virginia]
CFE		Chicago, Ft. Wayne & Eastern Railroad [Indiana, Ohio]
CCH		Columbus & Chattahoochee Railroad, Inc. [Alabama]
CAGY		Columbus and Greenville Railway Company [Mississippi]
CWRY		Commonwealth Railway, Incorporated [Virginia]
COEH		Conecuh Valley Railway, L.L.C. [Alabama]
DGNO		Dallas, Garland & Northeastern Railroad, Inc. [Texas]
DTR		Delphos Terminal Company, Inc. [Ohio]
ETRY		East Tennessee Railway, L.P. [Tennessee]
EARY		Eastern Alabama Railway, LLC [Alabama]
FCRD		First Coast Railroad Inc. [Florida, Georgia]
GVSR		Galveston Railroad, L.P. [Texas]
GC		Georgia Central Railway, L.P. [Georgia]
GSWR		Georgia Southwestern Railroad, Inc. [Alabama, Georgia]
GEXR		Goderich-Exeter Railway Company Limited [Ontario]
GITM		Golden Isles Terminal Railroad, Inc. [Georgia]
GR		Grand Rapids Eastern Railroad [Michigan]
HOG		Heart of Georgia Railroad, Inc. [Alabama, Georgia]
HAL		Hilton & Albany Railroad, Inc. [Georgia]
HCRY		Huron Central Railway Inc. [Ontario]
HESR		Huron & Eastern Railway Company, Inc. [Michigan]
IORY		Indiana & Ohio Railway Company [Indiana, Michigan, Ohio]
IMRR		Illinois & Midland Railroad, Inc. [Illinois]
ISRR		Indiana Southern Railroad, LLC [Indiana]
KLT		Knob Lake & Timmins Railway Company Inc. [Newfoundland & Labrador]
KRR		Kiamichi Railroad Company L.L.C. [Arkansas, Oklahoma, Kansas]
KWT		KWT Railway, Inc. [Kentucky, Tennessee]
KYLE		Kyle Railroad Company [Colorado, Kansas]
LRWN		Little Rock & Western Railway, L.P. [Arkansas]
LDRR		Louisiana & Delta Railroad, Inc. [Louisiana]
LXVR		Luxapalila Valley Railroad, Inc. [Alabama, Mississippi]
MQT		Marquette Rail, LLC [Michigan]
MMID		Maryland Midland Railway, Inc. [Maryland]
		Maryland and Pennsylvania Railroad, LLC [Pennsylvania]
MNBR		Meridian & Bigbee Railroad, L.L.C. [Alabama, Mississippi]
MS		Michigan Shore Railroad [Michigan]
MMRR		Mid-Michigan Railroad, Inc. [Michigan]
MNA		Missouri & Northern Arkansas Railroad Company, Inc. [Arkansas, Kansas, Missouri]
NCVA		North Carolina & Virginia Railroad Company, LLC [North Carolina, Virginia]
OTVR		Otter Tail Valley Railroad Company, Inc. [Minnesota, South Dakota]
PCN		Point Comfort & Northern Railway Company [Texas]
PNW		The Prescott and Northwestern Railroad Company [Arkansas]
QGRY		Quebec Gatineau Railway Inc./Chemins de fer Québec-Gatineau Inc. [Quebec]
RCPE		Rapid City, Pierre & Eastern Railroad, Inc. [Minnesota, Nebraska, South Dakota, Wyoming]
RDR		Red Deer Railway Limited [Alberta]
RLHH		Southern Ontario Railway [Ontario]
RLK		Ottawa Valley Railway [Ottawa]
RSOR		Riceboro Southern Railway, LLC [Georgia]
SL		Salt Lake City Southern Railroad Company, Inc. [Utah]
SAPT		Savannah Port Terminal Railroad, Inc. [Georgia]
SCRF		South Carolina Central Railroad Company, LLC [South Carolina]
SLR		St. Lawrence & Atlantic Railroad Company [Maine, New Hampshire, Vermont]
SLQ		St. Lawrence & Atlantic Railroad (Quebec) Inc./Chemin de fer St-Laurent & Atlantique (Québec) inc. [Quebec]
TZPR		Tazewell & Peoria Railroad, Inc. [Illinois]
TNER		Texas Northeastern Railroad [Texas]
TPW		Toledo, Peoria & Western Railway Corp. [Illinois, Indiana]
TR		Tomahawk Railway, Limited Partnership [Wisconsin]
UTAH		Utah Railway Company [Colorado, Utah]
VR		Valdosta Railway, L.P. [Georgia]
WSR		Warren & Saline River Railroad Company [Arkansas]
WTRY		Wilmington Terminal Railroad, Limited Partnership [North Carolina]
WGCR		Wiregrass Central Railway, L.L.C. [Alabama]
WLRS		Western Labrador Rail Services Inc. [Newfoundland & Labrador]
		Yorkrail, LLC [Pennsylvania]
YRC		York Railway Company [Pennsylvania]

Atlantic & Great Lakes Transportation Inc. Railroads and Operating States

AOR		The Aliquippa & Ohio River Railroad Co. [Pennsylvania]
ALY		Allegheny & Eastern Railroad, LLC [Pennsylvania]
BPRR		Buffalo & Pittsburgh Railroad, Inc. [New York, Pennsylvania]
BERX		Berkshire & Eastern Railroad [Connecticut, Massachusetts, New Hampshire, New York, Vermont]
CSO		Connecticut Southern Railroad, Inc. [Connecticut, Massachusetts]
CUOH		The Columbus & Ohio River Rail Road Company [Ohio]
DMM		The Dansville and Mount Morris Railroad Company [New York]
GNWR		Genesee and Wyoming Railroad Company [New York]
MVRY		The Mahoning Valley Railway Company [Ohio]
MSTR		The Massena Terminal Railroad Company [New York]
NECR		New England Central Railroad, Inc. [Connecticut, Massachusetts, New Hampshire, Vermont]
OHPA		Ohio and Pennsylvania Railroad Company [Ohio]
OHCR		Ohio Central Railroad, Inc. [Ohio]
OSRR		Ohio Southern Railroad, Inc. [Ohio]
PSR		Pittsburg & Shawmut Railroad, LLC [Pennsylvania]
POHC		The Pittsburgh & Ohio Central Railroad Company [Pennsylvania]
PW		Providence and Worcester Railroad Company [Connecticut, Massachusetts, New York, Rhode Island]
RSR		Rochester & Southern Railroad, Inc. [New York]
SB		South Buffalo Railway Company [New York]
WTRM		The Warren & Trumbull Railroad Company [Ohio]
WCOR		Wellsboro & Corning Railroad, LLC [Pennsylvania, New York]
YARR		Youngstown & Austintown Railroad, Inc. [Ohio]
YB		The Youngstown Belt Railroad Company [Ohio]

Canyon & Cascade Transportation Inc. Railroads and Operating States

ARZC		Arizona & California Railroad Company [Arizona, California]
AZER		Arizona Eastern Railway Company [Arizona, New Mexico]
CFNR		California Northern Railroad Company [California]
CSCD		Cascade and Columbia River Railroad Company [Washington]
CORP		Central Oregon & Pacific Railroad, Inc. [California, Oregon]
OYLO		Olympia & Belmore Railroad, Inc. [Washington]
PNWR		Portland & Western Railroad, Inc. [Oregon]
PSAP		Puget Sound & Pacific Railroad [Washington]
SDIY		San Diego & Imperial Valley Railroad Company, Inc. [California]
SJVR		San Joaquin Valley Railroad Co. [California]
VCRR		Ventura County Railroad Company [California]
WPRR		Willamette & Pacific Railroad, Inc. [Oregon]

Maryland and Pennsylvania Railroad, LLC and Yorkrail, LLC are non-operating carriers that own rail lines operated by York Railway Company. Delphos Terminal Company, Inc. is a non-operating carrier that owns a rail line operated by Chicago, Ft. Wayne & Eastern Railroad.

Allegheny & Eastern Railroad, LLC and Pittsburg & Shawmut Railroad, LLC are non-operating carriers that own rail lines operated by Buffalo & Pittsburgh Railroad, Inc. The Dansville and Mount Morris Railroad Company is a non-operating carrier that owns a rail line operated by Rochester & Southern Railroad, Inc.