Genesee & Wyoming Inc. Reports Traffic for October 2012

Genesee & Wyoming Inc. Reports Traffic for October 2012

GREENWICH, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (GWI) (NYS: GWR) today reported traffic volumes for October 2012.

GWI's traffic in October 2012 was 80,241 carloads, a decrease of 4,090 carloads, or 4.8 percent, compared with October 2011.

The table below sets forth consolidated carloading information for October 2012 and October 2011. Additional carload information for GWI's North American and Australian operations is included as an exhibit to this press release.

Excluding 125 carloads from the Hilton & Albany Railroad, Inc. (HAL), which commenced operations on January 1, 2012, and 1,249 carloads from the Columbus & Chattahoochee Railroad, Inc. (CCH), which commenced operations on July 1, 2012, same-railroad traffic in October 2012 decreased 5,464 carloads, or 6.5 percent, compared with October 2011. GWI's other commodity group traffic decreased 3,071 carloads in October 2012 primarily due to no overhead coal shipments in GWI's Ohio Region. Farm & food products traffic decreased 3,014 carloads primarily due to reduced shipments in GWI's Australia Region as a result of an accelerated shipping schedule earlier in 2012, as well as a mechanical failure at an export grain terminal in Adelaide, South Australia. Coal & coke traffic decreased 1,569 carloads primarily due to reduced shipments in GWI's Ohio and Illinois Regions. Metals traffic decreased 1,045 carloads primarily due to reduced shipments in GWI's Rail Link Region. These decreases were partially offset by a 1,168 carload increase in lumber & forest products traffic primarily due to increased shipments in GWI's Oregon Region. All remaining traffic increased by a net 2,067 carloads.

Carload Reporting for Metallic Ores Traffic

Effective January 1, 2012, a portion of GWI's metallic ores commodity group includes intermodal containers as a result of a change in rail logistics and equipment for a customer in GWI's Australia Region. The impact of this change increased traffic by 544 carloads in October 2012.

RailAmerica, Inc. Acquisition and Carload Reporting

On October 1, 2012, GWI acquired RailAmerica, Inc. (RailAmerica), at which time RailAmerica simultaneously deregistered its common stock and delisted from the New York Stock Exchange. Immediately following the closing of the acquisition, control of RailAmerica was placed into a voting trust with R. Lawrence McCaffrey appointed as trustee. The trust will remain in effect until the U.S. Surface Transportation Board (STB) issues its decision on GWI's application to control RailAmerica and its railroads, which decision could be as early as the fourth quarter of 2012 or as late as the first quarter of 2013. For the pendency of the trust, GWI will account for its ownership of RailAmerica under the equity method of accounting and RailAmerica will continue to report its carloadings independent of those of GWI. RailAmerica's October 2012 carloadings press release is posted on RailAmerica's website www.railamerica.com.

Other

Historically, GWI has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income or net income. Car movements related to railcar switching, including activities at port terminals, are excluded from our carload information as the resulting revenues are classified as non-freight.

GWI owns and operates short line and regional freight railroads and provides railcar switching services in the United States, Australia, Canada, the Netherlands and Belgium. In addition, GWI operates the Tarcoola to Darwin rail line, which links the Port of Darwin with the Australian interstate rail network in South Australia. Operations currently include 66 railroads organized in 10 regions, with more than 7,600 miles of owned and leased track and approximately 1,400 additional miles under track access arrangements. We provide rail service at 23 ports in North America, Australia and Europe and perform contract coal loading and railcar switching for industrial customers.

RailAmerica, Inc. owns and operates short line and regional freight railroads in North America, operating a portfolio of 45 individual railroads with approximately 7,500 miles of track in 28 U.S. states and three Canadian provinces.

Exhibit

The table below sets forth North American carloading information for October 2012 and October 2011:

The table below sets forth Australian carloading information for October 2012 and October 2011:

Genesee & Wyoming Inc.
Thomas D. Savage, 1-203-629-3722
Vice President - Corporate Development & Treasurer
http://www.gwrr.com

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS:

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