Patriot Corp. completes acquisition of Weyerhaeuser Company

Patriot Rail Corp., a privately-held shortline and regional freight railroad holding company, has completed the acquisition of the six shortline railroads belonging to Weyerhaeuser Company. This acquisition is the largest for Patriot to date, giving it a total of 13 shortline railroads owned. The six Weyerhaeuser railroads operate over approximately 160 miles of track in four states, employ 88 people and handle approximately 60,000 carloads of freight annually. The railroads primarily serve Weyerhaeuser and International Paper mills and a number of third-party customers. Major commodities hauled include wood and paper products, chemicals, industrial waste, minerals and agricultural products. Each of the railroads interchange traffic with multiple Class I carriers and other shortline railroads. The six railroads include: • The DeQueen and Eastern Railroad • The Texas, Oklahoma & Eastern Railroad • The Columbia & Cowlitz Railway • The Patriot Woods Railroad • The Golden Triangle Railroad • The Mississippi & Skuna Valley Railroad In addition to the rail lines and other track assets, the acquisition also includes 28 locomotives, over 300 railcars, 2,500 leased railcars, 50 motor vehicles, right-of-way real estate, general office buildings, maintenance of way equipment, locomotive shops, rail car repair shops, a wheel shop, rail yards and office and shop equipment. "This transaction represents the acquisition of very attractive railroads with strong cash flow, a dedicated workforce, a well-maintained track infrastructure, a highly-stable customer base and appealing growth opportunities," said Gary Marino, president of Patriot Rail. "We look forward to growing the business on the rail lines through innovative and competitive service offerings to existing and new customers." "We are pleased to complete the transaction with Patriot and look forward to working with them to continue receiving dependable rail service to our mills," said Daniel Fulton, Weyerhaeuser president.