GREENWICH, Conn., Sept. 25, 2008 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) commented today that Hurricane Ike is not expected to have a material impact on its financial results in the third quarter of 2008.
GWI's subsidiary, Galveston Railroad, L.P., provides rail service at the Port of Galveston, which was directly struck by Hurricane Ike. Galveston Railroad's equipment and property did not sustain significant damage from the hurricane. However, local and port-related rail service is expected to remain suspended into the fourth quarter of 2008. The suspension is not expected to have a material impact on GWI's financial results.
GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands and owns a minority interest in a railroad in Bolivia. Operations currently include 52 railroads organized in nine regions, with more than 6,000 miles of owned and leased track and approximately 3,000 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.
CONTACT: Michael Williams, Director, Corporate Communications, Genesee & Wyoming Inc. 1-203-629-3722 Web site: http://www.gwrr.com/
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Genesee & Wyoming's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
