{"id":520234,"date":"2021-07-29T16:06:26","date_gmt":"2021-07-29T20:06:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/"},"modified":"2021-07-29T16:06:26","modified_gmt":"2021-07-29T20:06:26","slug":"maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/","title":{"rendered":"Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">JACKSONVILLE, Fla., July  29, 2021  (GLOBE NEWSWIRE) &#8212; CSX Corp. (NASDAQ: CSX) announced today that its proposed merger with New England\u2019s Pan Am Railway\u2019s Inc. (Pan Am) gained additional support from Maine Governor Janet Mills as well as four shippers, two municipalities, and one member of the New York State Assembly who all filed letters with the Surface Transportation Board (STB) enthusiastically backing the deal.<\/p>\n<p align=\"justify\">The transaction will provide significant benefits to shippers, passenger rail users, and local communities as CSX integrates Pan Am into its best-in-class network. In particular, as CSX connects more of New England with its existing 23-state network, which serves two thirds of the nation\u2019s population, CSX\u2019s expected investment in infrastructure upgrades will improve freight and passenger rail service and further enhance the environmental sustainability of rail transportation in New England by shifting truck traffic off the highway.<\/p>\n<p align=\"justify\">Governor Mills wrote to the STB of her strong support for the merger, saying, \u201cThis transaction has the potential to bring substantial benefits to Maine. The state of Maine relies on rail traffic to deliver goods and support our economy. If the transaction is approved, CSX has indicated that it will make upgrades to track and locomotives to provide improved service, extend positive train control on Amtrak&#8217;s Downeaster, and make other improvements to the rail network. These changes would benefit Maine businesses and shippers that rely on freight rail to ship products and goods and positively impact passenger rail service.\u201d<\/p>\n<p align=\"justify\">Mark Gasbarro, owner and president of Massachusetts-based F&amp;M Tool and Plastics, said his company \u201clooks forward to the improved service that we will receive from CSX following the approval by the Surface Transportation Board of the merger.\u201d<\/p>\n<p align=\"justify\">Mr. Gasbarro\u2019s company wasn\u2019t the only one adding support to the nearly 90 customers, elected officials, and state and local governments that have already said this deal is in the best interest of New England freight and passenger rail transportation. In addition to F&amp;M Tool and Plastics of Leominster, MA, Brunswick Valley Lumber of Fredericton, New Brunswick, Canada, and Cooperative Reserve Supply of North Billerica, MA join a growing list of shippers that have publically announced their support for the transaction. Saratoga Country, NY and the City of Mechanicville, NY also joined the growing chorus of support for the transaction.<\/p>\n<p align=\"justify\">In their letter of support to the STB, Brunswick Valley Lumber noted that the partnership with CSX will allow them to \u201cimplement new supply chain solutions and market opportunities,\u201d while enhancing the company\u2019s competitiveness through \u201clower costs, better service, and improved access to the North American rail network.\u201d<\/p>\n<p align=\"justify\">Touting CSX\u2019s historical infrastructure investments, Tony Gentile, general manager of Cooperative Reserve Supply, said CSX\u2019s standards of service performance will lead to \u201chigher velocity, faster equipment turns, and greater consistency\u201d that should \u201cenhance [their] competitiveness.\u201d<\/p>\n<p align=\"justify\">On the municipal level, Saratoga County (NY) Administrator Steve Bulger highlights in his letter that freight railroads are oftentimes \u201cthe lifeblood\u201d for communities with large and small businesses relying on the services they provide to connect with markets across the country and around the world. A key benefit of the proposed transaction, Bulger notes, is that CSX will \u201cenhance competition through lower costs, better service and improved access\u201d to the rail network in the eastern United States.<\/p>\n<p align=\"justify\">Mechanicville (NY) Mayor Dennis Baker sees the deal as a way to increase freight rail service to his community and capitalize on the financial resources CSX brings to the table to undertake \u201cmuch needed infrastructure improvements\u201d across Pan Am\u2019s rail network.<\/p>\n<p align=\"justify\">Assemblywoman Carrie Woerner, a member of the New York State Assembly from New York\u2019s 113<sup>th<\/sup> Assembly District, encouraged the STB to fairly review the transaction, stating in her letter: &#8220;I support this proposed acquisition and believe my constituents will benefit from its adoption.\u201d<\/p>\n<p align=\"justify\">CSX <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=K_32ISnQsUXlU6lL117zbpmE9hdplskX6hdvFFp1zRqhdac2rDnAxwP2kG0tOdepsfgau4OluGaxvMHqQ-FwwVFnQdh6pmXaImG6S9lcFqY2rXJVevuFl1hT6CzqWJDJw3Va8ml9X5Sz5Uj8q_fkp3dhirF65BFqyyvir0m21Kjq-gNR5G0ZUp46GGiouoV8\" rel=\"nofollow noopener\" target=\"_blank\">filed<\/a> an expanded application with the STB on July 1, 2021 as part of an agreement to acquire Pan Am Railways and is awaiting approval.<\/p>\n<p align=\"justify\">Copies of the aforementioned support letters and additional information on the merger can be found by visiting <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hej1OHllSf07btPuhq3jkjZ8M_Cv3ntzwDU7Qbag14ZEH72mSJvIxn9Xg-CUUZ415Wt_rkE3fxV3Z3yS3Yhqz8wy4eF9geIyR_rEr4z7vDY=\" rel=\"nofollow noopener\" target=\"_blank\">NEFreightRail.com<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>About CSX<\/strong>\n      <\/p>\n<p align=\"justify\">CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation\u2019s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation\u2019s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corp. and its subsidiaries is available at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=EGVKxF0Gvzi8tm7huigQiwjXVA7_nnEkMW7ELXrOjA6Dju9x04XCmVuW76oMmaX-Jc_Dc8BZrxZGiUKkJSPPvQ==\" rel=\"nofollow noopener\" target=\"_blank\">www.csx.com<\/a><\/u>. Like us on Facebook (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1W0hnQ2O2Sg6iGja-4NQpQoZr0dh9WbmLb9vhKMiRD4D0Nh2jZbF6jm3YGH-YLgEugrJqDjz0p54sgFqPMjsnSMI__p55EhPHpKEQ5lysjdSP0OiVjR09q9F-lMe1r2F\" rel=\"nofollow noopener\" target=\"_blank\"><u>http:\/\/facebook.com\/OfficialCSX<\/u><\/a>) and follow us on Twitter (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1W0hnQ2O2Sg6iGja-4NQpciJ4gCVkmKaRCVEiMsh4aVDvLwqXmZkrJ3_Iw_x_XurA4lhjXPREbnONUhfm8hOiWs-vo96RXzPdZhaAzVSpg4=\" rel=\"nofollow noopener\" target=\"_blank\"><u>http:\/\/twitter.com\/CSX<\/u><\/a>).<\/p>\n<p align=\"justify\">\n        <strong>Forward-looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity, capital expenditures, dividends, share repurchases or other financial items, statements of management&#8217;s plans, strategies and objectives for future operations, and management&#8217;s expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as \u201cwill,\u201d \u201cshould,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cproject,\u201d \u201cestimate,\u201d \u201cpreliminary\u201d and similar expressions. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements.<\/p>\n<p align=\"justify\">Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward- looking statements include, among others; (i) the company&#8217;s success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic, political or business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation); (iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated with projecting economic and business conditions.<\/p>\n<p align=\"justify\">Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the company&#8217;s SEC reports, accessible on the SEC&#8217;s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=C6-0d8W0CzmavIbJo5dearSnu232soobIjqKsUFSGZ2INhvokt5grEw6IShDoYxAQ6dSeDwOFSAQtxm3IIewMw==\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.sec.gov<\/u><\/a> and the company&#8217;s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=EGVKxF0Gvzi8tm7huigQiwNvo0NGKh7jNTmJgdbnmF2C0pi6_485yFirp6s02SCloT8txIOh96MTgWn8FwYpTA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.csx.com<\/u><\/a>.<\/p>\n<p>\n        <strong>Contact:<br \/><\/strong>Bill Slater, Investor Relations<br \/>904-359-1334<\/p>\n<p>Bryan Tucker, Corporate Communications<br \/>855-955-6397<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTY4OCM0MzIyODQ3IzIwMDU0MzA=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/f4b438c2-a000-48e7-bc3b-85e8641f5cc9\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>JACKSONVILLE, Fla., July 29, 2021 (GLOBE NEWSWIRE) &#8212; CSX Corp. (NASDAQ: CSX) announced today that its proposed merger with New England\u2019s Pan Am Railway\u2019s Inc. (Pan Am) gained additional support from Maine Governor Janet Mills as well as four shippers, two municipalities, and one member of the New York State Assembly who all filed letters with the Surface Transportation Board (STB) enthusiastically backing the deal. The transaction will provide significant benefits to shippers, passenger rail users, and local communities as CSX integrates Pan Am into its best-in-class network. In particular, as CSX connects more of New England with its existing 23-state network, which serves two thirds of the nation\u2019s population, CSX\u2019s expected investment in infrastructure upgrades will improve freight and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-520234","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"JACKSONVILLE, Fla., July 29, 2021 (GLOBE NEWSWIRE) &#8212; CSX Corp. (NASDAQ: CSX) announced today that its proposed merger with New England\u2019s Pan Am Railway\u2019s Inc. (Pan Am) gained additional support from Maine Governor Janet Mills as well as four shippers, two municipalities, and one member of the New York State Assembly who all filed letters with the Surface Transportation Board (STB) enthusiastically backing the deal. The transaction will provide significant benefits to shippers, passenger rail users, and local communities as CSX integrates Pan Am into its best-in-class network. In particular, as CSX connects more of New England with its existing 23-state network, which serves two thirds of the nation\u2019s population, CSX\u2019s expected investment in infrastructure upgrades will improve freight and &hellip; Continue reading &quot;Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-29T20:06:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTY4OCM0MzIyODQ3IzIwMDU0MzA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Maine Governor Adds Name to Growing List of Supporters of the CSX\\\/Pan Am Merger\",\"datePublished\":\"2021-07-29T20:06:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\\\/\"},\"wordCount\":1187,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4OTY4OCM0MzIyODQ3IzIwMDU0MzA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\\\/\",\"name\":\"Maine Governor Adds Name to Growing List of Supporters of the CSX\\\/Pan Am Merger - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/","og_locale":"en_US","og_type":"article","og_title":"Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger - Market Newsdesk","og_description":"JACKSONVILLE, Fla., July 29, 2021 (GLOBE NEWSWIRE) &#8212; CSX Corp. (NASDAQ: CSX) announced today that its proposed merger with New England\u2019s Pan Am Railway\u2019s Inc. (Pan Am) gained additional support from Maine Governor Janet Mills as well as four shippers, two municipalities, and one member of the New York State Assembly who all filed letters with the Surface Transportation Board (STB) enthusiastically backing the deal. The transaction will provide significant benefits to shippers, passenger rail users, and local communities as CSX integrates Pan Am into its best-in-class network. In particular, as CSX connects more of New England with its existing 23-state network, which serves two thirds of the nation\u2019s population, CSX\u2019s expected investment in infrastructure upgrades will improve freight and &hellip; Continue reading \"Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-29T20:06:26+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTY4OCM0MzIyODQ3IzIwMDU0MzA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger","datePublished":"2021-07-29T20:06:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/"},"wordCount":1187,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTY4OCM0MzIyODQ3IzIwMDU0MzA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/maine-governor-adds-name-to-growing-list-of-supporters-of-the-csx-pan-am-merger\/","name":"Maine Governor Adds Name to Growing List of Supporters of the CSX\/Pan Am Merger - 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