LAS VEGAS, NV, Aug. 23, 2018 (GLOBE NEWSWIRE) --
via NEWMEDIAWIRE -- United Rail, Inc. (OTCPK: XTRN), a short line railroad consolidator and owner of the X Train brand and brand licensor, today announced that it has acquired U S Rail Holdings, a freight short line railroad, located in Toledo, Ohio.
U S Rail Holdings (USRH) is a short-line railroad operator and provides a variety of value-added rail transportation services including transloading, private industrial rail car switching, track maintenance services, rail car repair, and rail car storage. USRH leases and operates approximately 72 miles of rail lines in the Kokomo, Indiana area.
“Our plan is to consolidate the smaller and sometimes overlooked short lines and consolidate them under the United Rail Inc. banner,” said Michael Barron, CEO of United Rail Inc.
Mr. Barron added, “We plan to aggressively grow our presence in other markets. With the inclusion of USRH under the United Rail Inc. umbrella, we now have a pathway to effectively reach those small railroad companies who wish to sell.”
Danielle M. Mitchell, CEO of USRH and the new EVP of Business Development for United Rail Inc., stated, “We have been looking for some time to find a partner with the same vision as we have for the consolidation of these small short lines. Now with this deal, we will have a leg up on contacting and closing these rail properties and afford the sellers a path to liquidity. We are very pleased to be part of the exciting program United Rail Inc. has planned.”
The Toledo offices of U S Rail will now become the operations hub for the acquired companies into the United Rail network. United Rail already has developed a pipeline of prospective companies and expects to have five such railroads under the United network by the end of the year.
About United Rail Inc.
United Rail, Inc. is in the business of acquiring short line railroads in the freight operations space. The company has been active in this space for several years. It has operated both passenger rail excursions and short line freight operations and plans to develop rail infrastructure projects and terminal operations.
Forward-looking Statements
This press release may contain forward-looking statements regarding United Rail, Inc. (the “Company”) within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements”, including statements regarding: the financial outlook of the Company, the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “seeks,” “should,” “could,” “intends,” or “projects” or similar expressions, and involve known and unknown risks and uncertainties. The Company’s actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, and may be beyond the Company’s ability to foresee or control. The Company does not undertake an obligation to update or revise any forward-looking statements, and all forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.