Edited from a New England Council (newenglandcouncil.com) report:

BOSTON

“The federal Surface Transportation Board has approved CSX Corp.’s application to acquire Pan Am Railways, Inc. (Pan Am). This will let CSX to move forward with their acquisition with a current closing date of June 1.

‘‘This acquisition will allow for an extended reach of CSX’s services to a wider customer base over an expanded territory. CSX says it will operate Pan Am with an increased environmental performance, including a more reliable and more fuel-efficient fleet, significantly reducing fuel consumption and improving rail’s environmental footprint in the region. Pan Am is based in North Billerica, Mass., and owns and operates a nearly 1,200-mile rail network. Its network across New England includes access to multiple ports and large-scale commodity producers. The acquisition will let CSX to expand into Vermont, New Hampshire and Maine.

“‘CSX is pleased that the STB approved the proposed acquisition of Pan Am and has recognized the significant benefits this transaction will bring to shippers and other New England stakeholders,’ said CSX president and chief executive officer James M. Foote. ‘We look forward to integrating Pan Am, their employees and the rail-served industries of the Northeast into CSX and to working in partnership with connecting railroads to provide exceptional supply-chain solutions to New England and beyond.”’

Read more in the Massachusetts Transit Magazine.

CSX buying N.E. rail network