United
Rail, Inc. Acquires New England Southern Railway
LAS
VEGAS, NV
-- February 25, 2019 --
InvestorsHub NewsWire -- United Rail, Inc. (OTCPK:
URAL) , a short line railroad consolidator and owner of
the SmartRail brand for electronic
Precision Railroading and brand licensor, today announced that it
has acquired the New England Southern Railroad, a freight short
line railroad, located in Concord, New Hampshire.
New
England Southern (NES) is a short-line railroad operator and
provides a variety of value-added rail transportation services
including transloading, private industrial rail car switching and
rail car storage. NES leases and operates
approximately 22 miles of rail lines in the Concord
area.
"Our plan is to consolidate
the smaller and sometimes overlooked short lines and consolidate
them under the United Rail banner," said Michael Barron, CEO of
United Rail.
Mr. Barron added, "We plan to
aggressively grow our presence in other markets. With the inclusion
of the NES under the United Rail umbrella, we now have a presence
in the Northeast, an area where we feel there are great growth
opportunities."
Danielle M. Mitchell, EVP
Business Development for United Rail, stated, "We have been looking
for some time to find a partner in this region 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."
United Rail will now await
final operating authority from the state to begin operations. No
financial details of the all cash transaction were
disclosed.
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.
Contact:
Michael Mason, EVP
United Rail, Inc.
michael@unitedrailinc.com
917-841-8371
Media Contact:
Success City
Online
Ms. Maria Bailey
Maria@successcityonline.com
(702) 271-0591
