Does anyone know if the KCS acquired control or ownership of the Texas-Mexican? If so, what was the date? Boxcab E50
Ken, the following are from the KCS site, http://www.kcsouthern.com/en-us/Pages/default.aspx "To pursue expansion into Mexico, in 1995, KCS entered into an agreement with Grupo TMM, S.A. de C.V. (Grupo TMM), a Mexican-based ocean shipping and logistics company, for the purpose of pursuing the concessions of one of Mexico's soon to be privatized rail lines. At the same time, KCS purchased 49 percent stock interest in MexRail, Inc., the owner of all of the stock of Texas Mexican Railway Company (Tex Mex). Tex Mex operated between Laredo and Corpus Christi, Texas, providing a link from the United States to Mexico via the International Bridge at Laredo. This was the link that KCS needed to expand. At the time, the investment was considered by some observers to be questionable, because the Tex Mex did not connect with KCSR. This situation was remedied in 1996 when the Surface Transportation Board, as part of its review of the proposed UP-SP merger, provided the Tex Mex trackage rights to connect with KCSR at Beaumont, Texas." And further from the KCS site... "The Texas Mexican Railway Company (Tex Mex) "Wholly owned by KCS, Tex Mex is a 157-mile railway that, with its trackage rights, operates over 557 route miles, linking KCSR and KCSM."
Thanks, Hank. Looks like there must be a sentence missing from their site? Where they acquired the remaining 51% interest? It seems to skip from 49% to 100% at an unknown date? Boxcab E50
Ken, according to Wikipedia, KCS took full control of the Tex-Mex on 1/1/2005. http://en.wikipedia.org/wiki/Texas_Mexican_Railway
