Providence and Worcester Railroad Company, a short-line freight railroad, provides interstate freight carrier services in Massachusetts, Rhode Island, Connecticut, and New York. The company transports commodities for its customers, including automobiles, construction aggregates, iron and steel products, chemicals and plastics (including ethanol), lumber, scrap metals, plastic resins, cement, coal, construction and demolition debris, and processed foods and edible foodstuffs, such as corn syrup and vegetable oils. In 2013, the company transported 34,402 carloads of freight and 19,047 intermodal containers. Railroad Operations The company’s rail freight system comprises approximately 516 miles of track. The company interchanges freight traffic: with CSX Transportation (CSXT) at Worcester, Massachusetts and New Haven, Connecticut; with Pan Am Railways at Worcester, Massachusetts; with Pan Am Southern (PAS) and Norfolk Southern Railways (NS) via PAS at Gardner, Massachusetts; with New England Central Railroad at New London and Willimantic, Connecticut; with Canadian National Railway via the Great Eastern Route; with Canadian Pacific Railway via the New England Central Railroad; and with New York and Atlantic Railroad at Fresh Pond Junction on Long Island. Through its connections, the company links approximately 80 communities on its lines. The company operates four classification yards (areas containing tracks used to group freight cars destined for a particular industry or interchange) located in Worcester, Massachusetts, Cumberland, Rhode Island, and Plainfield and New Haven, Connecticut. By agreement with a private operator, the company services an intermodal yard in Worcester, an area containing tracks used for the loading and unloading of containers. This yard is U.S. Customs-bonded, and international traffic must be inspected and approved by U.S. Customs officials. The intermodal yard serves primarily as a terminal for the movement of container traffic from Canada, the Far East, Southeast Asia and Europe destined for points in New England. Container ship lines utilize double-stack train service through this terminal. Customers The company serves approximately 140 customers in Massachusetts, Rhode Island, Connecticut and New York. Its customers include Exxon Mobil Corporation; Ford Motor Company; Frito-Lay, Inc.; Global LLP; GDF SUEZ Energy North America; International Paper Company; Lehigh Cement; Cargill, Inc.; Northeast Utilities; Nucor Steel; Rawson Materials; Renewable Products Marketing Group; Subaru of New England; Tilcon Connecticut, Inc.; and Toray Plastics (America), Inc. Governmental Regulation The company is subject to governmental regulation by the Surface Transportation Board, the Federal Railroad Administration, the Transportation Security Administration (the TSA) and other federal, state and local regulatory authorities with respect to certain rates and railroad operations, as well as various health, safety, labor, environmental and other matters, all of which could potentially affect the company’s competitive position and profitability. Competition The company’s rail competitor includes CSXT. History Providence and Worcester Railroad Company was founded in 1969.
providence and worcester rr
(PWX:Consolidated Issue listed on NASDAQ Global Market)
75 Hammond Street
Worcester, MA 01610
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