DAILY NEWS Mar 3, 2014 3:02 PM - 0 comments

Federated Capital Corporation acquires Cold Train

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2014-03-03

FARMINGTON HILLS, Mich.--Michigan based Federated Railways, Inc., an affiliate of Federated Capital Corporation, has announced it has entered into an agreement to acquire the assets of Rail Logistics, LC., including its "Cold Train" Express Intermodal Service. The new subsidiary will be called "Federated Cold Train, LLC." and will conduct business as Cold Train. The company will maintain its current management team and staff, including Steve Lawson as President and CEO, and will retain its current headquarters located in Overland Park, Kansas.

Federated Capital Corporation's holdings consist of a variety of service, leasing, and railroad assets including the Great Lakes Central Railroad, Inc. (GLCR), a 400-mile regional railroad operating entirely in the state of Michigan, and Federated Railcar, Inc., owner of a fleet of refurbished passenger cars.

Rail Logistics launched the "Cold Train" Express Intermodal Service in partnership with BNSF Railway from the Port of Quincy Intermodal Terminal in Washington State in April of 2010, and then more recently began a similar Cold Train service from Portland, Oregon. A recent study of 29 western U.S. and Canadian locations with intermodal terminals (including the Port of Quincy Intermodal Terminal) ranked Quincy, Washington as the lowest cost location for operating a distribution center or a warehouse, said a release.

Since the Cold Train refrigerated expedited intermodal freight service was launched, it has grown rapidly in popularity with shippers in Washington State/Oregon and the Midwest and East Coast.

In 2013, Cold Train expanded its Washington State based refrigerated container fleet to over 400 state-of-the-art Hyundai 53' containers while adding several new destinations on the East Coast. As a result, Cold Train now delivers refrigerated cargo from Washington and Oregon to the following twenty (20) states: Illinois, Indiana, Michigan, Wisconsin, Ohio, Pennsylvania, New York, New Jersey, Connecticut, Massachusetts, Delaware, Maryland, Virginia, Tennessee, North Carolina, South Carolina, Louisiana, Mississippi, Georgia and Florida. Furthermore, Cold Train has regular express service from Washington and Oregon to Toronto, Ontario in Canada.

In addition to shipping Washington State and Oregon fresh produce and frozen foods eastbound to 20 states and one province, Cold Train hauls frozen and refrigerated foods and some dry goods back from the Midwest and East Coast to Washington State and Oregon. In other words, Cold Train ships loaded or full containers both directions to maximize utilization of equipment, which helps to reduce costs and provide both an inbound and outbound service for shippers and receivers.

The combined assets of Federated Capital Corporation and Cold Train will provide a wide variety of freight transportation options for shippers, growers, producers, packers, food processors and retailers alike, the release said.



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