[Federal Register Volume 60, Number 76 (Thursday, April 20, 1995)]
[Notices]
[Pages 19771-19772]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-9781]
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INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32682]
RailTex, Inc.--Corporate Family Transaction Exemption--Georgia
and Alabama Lines, South Carolina Central Railroad Co., Inc. and
Georgia Southwestern Railroad, Inc.
RailTex, Inc. (RailTex), South Carolina Central Railroad Co., Inc.
(SCC), and Georgia Southwestern Railroad, Inc. (GSWR), have filed a
notice of exemption under 49 CFR 1180.2(d)(3) for a corporate family
transaction.
RailTex, a noncarrier corporation, controls through stock
ownership: (1) SCC, a class III shortline rail carrier; and (2) GSWR, a
noncarrier company.
SCC currently operates about 56 miles of railroad in South
Carolina. SCC also owns three railroad lines in Georgia and Alabama:
(1) Georgia Southwestern Division, extending from Rochelle, GA to
Mahrt, AL, and from Columbus to Bainbridge, GA; (2) Georgia & Alabama
Division, extending from Smithville, GA [[Page 19772]] to White Oak,
AL; and (3) Georgia Great Southern Division, extending from Dawson to
Albany, GA. The railroad lines in Georgia and Alabama are separately
managed as divisions of SCC.
As part of a corporate restructuring, SCC will transfer to GSWR its
interests in the railroad lines in Georgia and Alabama. SCC and GSWR
will function as separate corporate entities, with separate revenue
centers, and each will be managed, administered, directed, and
accounted for separately. The parties intended to consummate on or
about April 1, 1995.
This is a transaction within a corporate family of the type
specifically exempted from prior approval under 49 CFR 1180.2(d)(3)
because it will not result in adverse changes in service levels,
significant operational changes, or a change in the competitive balance
with carriers outside the corporate family.
As a condition to use of this exemption, any employees adversely
affected by the transaction will be protected by the conditions set
forth in New York Dock Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C.
60 (1979). Imposition of labor protective conditions is mandatory for
transactions under 49 U.S.C. 11343.
Petitions to revoke the exemption under 49 U.S.C. 10505(d) may be
filed at any time. The filing of a petition to revoke will not stay the
exemption's effectiveness. Pleadings must be filed with the Commission
and served on: Michael W. Blaszak, 211 South Leitch Ave., LaGrange, IL
60525.
Decided: April 14, 1995.
By the Commission, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 95-9781 Filed 4-19-95; 8:45 am]
BILLING CODE 7035-01-P
