Delaware | 06-0984624 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
As previously announced in April 2011, Genesee and Wyoming Inc.'s Australian subsidiary, Genesee and Wyoming Australia Pty Ltd (GWA) is a party to a rail haulage agreement pursuant to which it serves the Southern Iron mine owned by Arrium Limited (ASX: ARI) (Arrium). Arrium announced today that it is redesigning its mining business and expects to mothball its Southern Iron mine, citing the significant decline in the price of iron ore. During 2014, GWA carried approximately 26,000 carloads of iron ore from the Southern Iron mine, generating approximately A$65 million in freight revenues (or approximately US $52 million, at current exchange rates of A$1.00 = $US 0.80), under a fixed and variable payment structure. As a result of the announcement, we expect to receive only the fixed portion of the payments under the rail haulage agreement.
Cautionary Statement Regarding Forward-Looking Statements
Genesee & Wyoming Inc. | ||||||||
Date: January 23, 2015 | By: | /s/ Timothy J. Gallagher | ||||||
Timothy J. Gallagher | ||||||||
Chief Financial Officer | ||||||||