The Galveston Railroad (reporting mark GVSR) is a Class III terminal switching railroad headquartered in Galveston, Texas. It primarily serves the transportation of cargo to and from the Port of Galveston.[1]
GVSR operates 32 miles (51 km) of yard track at Galveston, over a 50-acre (200,000 m2) facility.
The railroad was formed in 1900 as the Galveston Wharves Railway. It is owned by the City of Galveston, and GVSR took over operations in 1987.
On May 26, 2005, Genesee & Wyoming (G&W) announced that it has agreed to purchase the railroad operations of Rail Management Corporation (RMC), the parent company of Galveston Railroad. G&W paid $243 million in cash and assume $1.7 million in company debt to gain control of 14 short line railroads from RMC across the southeastern United States, as of June 1, 2005.[2]
References
- ^ Young, Nancy Beck (June 15, 2010). "Galveston Railway". Handbook of Texas Online. Texas State Historical Association. Retrieved January 15, 2016.
- ^ "Genesee & Wyoming Announces Agreement to Acquire Short Line and Port Railroads from Rail Management Corporation" (Press release). Genesee & Wyoming. PRNewswire. May 26, 2005. Retrieved January 15, 2015.[permanent dead link]
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