According to a filing with the Surface Transportation Board, DOT Rail Services (Granville, Ill.) is selling “substantially all of [its] assets,” including Central Illinois Railroad Co. (CIRY), to Central Illinois Railroad Holdings, LLC (Willow Springs, Ill.) for approximately $3 million in cash.
CIRY is the carrier the city chose to replace Pioneer Industrial Railway on the Kellar Branch. Details of the transaction, as well as what impact (if any) this will have on the Kellar Branch saga, are unknown at this time.
C. J.,
From reading the STB filing, it appears that management and other stockholders are selling their company and subsidiaries to a new holding company.
This shouldn’t affect CIRY’s contract with the City of Peoria, though STB action regarding Carver Lumber’s concerns might.