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FOR IMMEDIATE RELEASE
4 P.M. EDT, September 27, 2007
Contact: John F. Kennedy
Phone: (508) 771-3800, X101
CAPE COD COMPANY AWARDED STATE FREIGHT RAIL CONTRACT
Massachusetts Transportation Secretary Announces that Massachusetts Coastal Railroad, LLC, to Operate S.E. Mass Lines
HYANNIS, MA - September 27, 2007 - Massachusetts Coastal Railroad, LLC (Mass Coastal), today announced that it was awarded the state's freight rail contract for southeastern Massachusetts rail lines by state Transportation Secretary, Bernard Cohen, at his office at the Executive Office of Transportation and Public Works (EOTPW).
Mass Coastal is a wholly owned subsidiary of Cape Rail, Inc., a railroad management and holding company that also owns Cape Cod Central Railroad, a successful passenger, excursion and dinner train company operating on Cape Cod since 1999.
The rail lines awarded comprise approximately sixty (60) miles of tracks throughout southeastern Massachusetts, including the line from Middleboro to Hyannis, with branch lines to Yarmouth and Falmouth. Also included are lines in Taunton, North Dartmouth and Westport, MA. Mass Coastal will commence freight rail service to the line's customers on January 1, 2008. The contract with EOTPW is for ten years, with options beyond 2018.
The Hyannis-based railroad is best known for its award-winning sister company, Cape Cod Central Railroad, and for being an organization that is deeply rooted in the communities that it serves. The companies are owned and operated by:
John F. Kennedy - Chairman and Chief Executive Officer
Andrew J. Reardon - Chief Financial Officer and Treasurer
P. Christopher Podgurski - Vice President and Chief Mechanical Officer
As with its Cape Cod Central Railroad operation, Mass Coastal will operate with the core value that partnership with its true community stakeholders is imperative for long term success.
Company Chairman and CEO, John F. Kennedy, states, "We continue to define the true stakeholders of our business to be the valued customers, the communities we serve, the Commonwealth, and our committed employees. It has been a formula for our successes thus far, and will continue to drive our business philosophy into the future."
This contract was awarded by EOTPW after a Request For Responses was issued in late 2006.
All product and company names herein may be trademarks of their respective owners.
Contact information (press members only):
John F. Kennedy
Mass Coastal Railroad
252 Main Street, Hyannis, MA 02601
508-771-3800, x101
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