Andrew M. Muller Jr., CEO of Reading Blue Mountain and Northern Railroad, said the acquisition is a big step in growing rail operations in the area.
Wayne A. Michel, president of Reading Blue Mountain and Northern Railroad, added that the railroad plans to aggressively market the Towanda segment to natural gas producers.
"We know there are many railroad opportunities related to the Marcellus Shale and we will be pursuing them diligently in the weeks and months ahead," Michel said. "Already on our railroad, we recently opened the largest frac sand terminal in the region at our Pittston Yard near Scranton and we will be moving brine water this month out of Mehoopany."
Reading and Northern Railroad, with its corporate headquarters in Port Clinton, is a privately held railroad company serving major businesses in eight counties in Eastern Pennsylvania, including Carbon, Schuylkill, Luzerne, Northumberland, Lehigh, Lackawanna, Berks, and Wyoming counties.