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-   -   KCS / TFM buy 75 SD70MAC Units (http://www.railpictures.net/forums/showthread.php?t=2763)

J 11-04-2005 02:23 PM

KCS / TFM buy 75 SD70MAC Units
 
KCS Announces Subsidiaries' Locomotive Purchase
Thursday November 3, 10:25 am ET
KANSAS CITY, Mo.--(BUSINESS WIRE)--Nov. 3, 2005--Kansas City Southern (KCS) (NYSE:KSU - News) today announced that its wholly owned subsidiary, The Kansas City Southern Railway Company (KCSR) and a Mexican affiliate have purchased 75 SD70MAC locomotives from El-Mo-Mex, Inc. for $32.625 million plus the assumption of approximately $95.9 million in debt and accrued interest. KCSR intends to sell all of the locomotives to an unaffiliated third party and enter into a long-term, leveraged lease of the locomotives.
"This transaction is another step toward making KCS' U.S. and Mexican operations more efficient, reducing costs and taking advantage of economies of scale," said KCS chairman, president and chief executive officer Michael R. Haverty.


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