Genesee & Wyoming Inc. Reports Traffic for March 2001

Apr 16, 2001, 01:00 ET from Genesee & Wyoming Inc.

    GREENWICH, Conn., April 16 /PRNewswire/ --
 Genesee & Wyoming Inc. (GWI) (Nasdaq: GNWR) today reported March 2001 traffic
 volumes for its North American and 50% owned Australian operations.  North
 American carloads in March 2001 were 35,517, a decrease of 73 carloads from
 March 2000.  Australian carloads in March 2001 were 73,942 compared with
 21,083 carloads in March 2000.  Included in Australia's March 2001 carloads
 are the results of the Australian Railroad Group (ARG), which is composed of
 the Australia Southern Railroad (ASR) and the Australia Western Railroad (AWR)
 -- formerly known as Westrail Freight.  On December 16, 2000, GWI contributed
 ASR (formerly wholly-owned) to ARG and now owns 50% of ARG.  GWI will report
 its 50% ownership of ARG using the equity method of accounting and has
 therefore, as of December 16, 2000, stopped consolidating ASR in its financial
 statements.  Given ARG's expected material impact on the financial results of
 GWI, the Company reports the total carloads of ARG on a monthly basis.
     The table below sets forth North American carloading information for March
 2001 and March 2000:
 
     North America by         March          % of        March          % of
     Commodity Group           2001         Total         2000         Total
 
     Coal Coke and Ores      13,018         36.7%       10,960         30.8%
     Pulp and Paper           4,517         12.7%        4,308         12.1%
     Farm and Food Products   3,479          9.8%        3,402          9.6%
     Minerals and Stone       3,340          9.4%        3,544         10.0%
     Metals                   3,186          9.0%        3,237          9.1%
     Petroleum Products       2,706          7.6%        3,036          8.5%
     Lumber and Forest
       Products               2,156          6.1%        2,990          8.4%
     Chemicals                1,590          4.5%        1,715          4.8%
     Autos and Auto Parts       208          0.6%          561          1.6%
     Other                    1,317          3.6%        1,837          5.1%
 
     Total                   35,517        100.0%       35,590        100.0%
 
     North American carloads in March 2001 declined by 73 carloads, or 0.2%.
 Coal shipments increased by 2,058 carloads, reflecting record monthly volume
 in the Company's Illinois Region.  The increase in coal shipments was offset
 by a 834 carload decrease in lumber and forest products as shippers in the
 Company's Oregon and Canada regions experienced lower demand for their
 products.  All other commodities combined decreased by a net 1,297 carloads.
     The table below sets forth North American carloading information for the
 first quarter of 2001 and the first quarter of 2000:
 
     North America by            Q1          % of           Q1          % of
     Commodity Group           2001         Total         2000         Total
 
     Coal Coke and Ores      31,310         33.0%       32,590         32.5%
     Pulp and Paper          13,032         13.8%       12,765         12.7%
     Farm and Food Products   9,692         10.2%        9,928          9.9%
     Minerals and Stone       9,602         10.1%        8,961          8.9%
     Metals                   9,413          9.9%        9,040          9.0%
     Petroleum Products       7,661          8.1%        8,356          8.3%
     Lumber and Forest
       Products               5,532          5.8%        7,116          7.1%
     Chemicals                4,359          4.6%        4,412          4.4%
     Autos and Auto Parts       596          0.6%        1,380          1.4%
     Other                    3,549          3.9%        5,686          5.8%
 
     Total                   94,746        100.0%      100,234        100.0%
 
     The table below sets forth Australian carloading information for March
 2001 and March 2000.  Included in Australia's March 2001 carloads are the
 results of the Australian Railroad Group (ARG), which is composed of the
 Australia Southern Railroad (ASR) and the Australia Western Railroad (AWR).
 On December 16, 2000, GWI contributed ASR (formerly wholly-owned) to ARG and
 now owns 50% of ARG:
 
     Australia by             March          % of        March          % of
     Commodity Group           2001         Total         2000         Total
 
     Grain                   17,460         23.6%        3,713         17.6%
     Alumina                 12,776         17.3%           --            --
     Iron Ores               12,711         17.2%        8,259         39.2%
     Bauxite                 10,011         13.5%           --            --
     Other Ores and Minerals  8,238         11.2%        1,246          5.9%
     Gypsum                   3,663          5.0%        2,599         12.3%
     Hook and Pull            3,539          4.8%        5,266         25.0%
     Other                    5,544          7.5%           --            --
 
     Total                   73,942        100.0%       21,083        100.0%
 
     Australia carloads in March 2001 increased by 52,859 carloads.  ASR's
 traffic increased by 3,469 carloads and the inclusion of AWR accounted for
 49,390 carloads.  ASR's grain traffic increased by 3,133 carloads and gypsum
 traffic increased by 1,064 carloads.  These increases were offset by a
 1,727 carload decrease in hook and pull traffic.  AWR's traffic was led by
 12,776 carloads of alumina, 10,011 carloads of bauxite and 10,614 carloads of
 grain.
     The table below sets forth Australian carloading information for the first
 quarter of 2001 and the first quarter of 2000.  Included in Australia's 2001
 carloads are the results of the Australian Railroad Group (ARG), which is
 composed of the Australia Southern Railroad (ASR) and the Australia Western
 Railroad (AWR):
 
     Australia by                Q1          % of           Q1          % of
     Commodity Group           2001         Total         2000         Total
 
     Grain                   40,671         20.2%       10,470         16.6%
     Iron Ores               35,871         17.8%       25,725         40.8%
     Alumina                 35,307         17.6%           --            --
     Bauxite                 30,973         15.4%           --            --
     Other Ores and Minerals 23,812         11.8%        3,299          5.2%
     Gypsum                   9,828          4.9%        9,711         15.4%
     Hook and Pull            8,955          4.5%       13,507         21.5%
     Other                   15,671          7.8%          266          0.5%
 
     Total                  201,088        100.0%       62,978        100.0%
 
     GWI is a leading operator of short line and regional freight railroads in
 the United States, Canada, Mexico, Australia and Bolivia, and provides freight
 car switching and related services to industrial companies that have extensive
 railroad facilities within their complexes. The Company operates in five
 countries on three continents over 7,700 miles of owned and leased track. It
 also operates over an additional 2,700 miles under track access arrangements.
 In October 2000, the Company was ranked 99th on Forbes magazine's list of the
 200 best small companies in America.
 
     This press release contains forward-looking statements regarding future
 events and the future performance of Genesee & Wyoming Inc. that involve risks
 and uncertainties that could cause actual results to differ materially
 including, but not limited to, economic conditions, customer demand, increased
 competition in the relevant market, and others.  The Company refers you to the
 documents that Genesee & Wyoming Inc. files from time to time with the
 Securities and Exchange Commission, such as the Company's Forms 10-Q and 10-K
 which contain additional important factors that could cause its actual results
 to differ from its current expectations and from the forward-looking
 statements contained in this press release.
 
 

SOURCE Genesee & Wyoming Inc.
    GREENWICH, Conn., April 16 /PRNewswire/ --
 Genesee & Wyoming Inc. (GWI) (Nasdaq: GNWR) today reported March 2001 traffic
 volumes for its North American and 50% owned Australian operations.  North
 American carloads in March 2001 were 35,517, a decrease of 73 carloads from
 March 2000.  Australian carloads in March 2001 were 73,942 compared with
 21,083 carloads in March 2000.  Included in Australia's March 2001 carloads
 are the results of the Australian Railroad Group (ARG), which is composed of
 the Australia Southern Railroad (ASR) and the Australia Western Railroad (AWR)
 -- formerly known as Westrail Freight.  On December 16, 2000, GWI contributed
 ASR (formerly wholly-owned) to ARG and now owns 50% of ARG.  GWI will report
 its 50% ownership of ARG using the equity method of accounting and has
 therefore, as of December 16, 2000, stopped consolidating ASR in its financial
 statements.  Given ARG's expected material impact on the financial results of
 GWI, the Company reports the total carloads of ARG on a monthly basis.
     The table below sets forth North American carloading information for March
 2001 and March 2000:
 
     North America by         March          % of        March          % of
     Commodity Group           2001         Total         2000         Total
 
     Coal Coke and Ores      13,018         36.7%       10,960         30.8%
     Pulp and Paper           4,517         12.7%        4,308         12.1%
     Farm and Food Products   3,479          9.8%        3,402          9.6%
     Minerals and Stone       3,340          9.4%        3,544         10.0%
     Metals                   3,186          9.0%        3,237          9.1%
     Petroleum Products       2,706          7.6%        3,036          8.5%
     Lumber and Forest
       Products               2,156          6.1%        2,990          8.4%
     Chemicals                1,590          4.5%        1,715          4.8%
     Autos and Auto Parts       208          0.6%          561          1.6%
     Other                    1,317          3.6%        1,837          5.1%
 
     Total                   35,517        100.0%       35,590        100.0%
 
     North American carloads in March 2001 declined by 73 carloads, or 0.2%.
 Coal shipments increased by 2,058 carloads, reflecting record monthly volume
 in the Company's Illinois Region.  The increase in coal shipments was offset
 by a 834 carload decrease in lumber and forest products as shippers in the
 Company's Oregon and Canada regions experienced lower demand for their
 products.  All other commodities combined decreased by a net 1,297 carloads.
     The table below sets forth North American carloading information for the
 first quarter of 2001 and the first quarter of 2000:
 
     North America by            Q1          % of           Q1          % of
     Commodity Group           2001         Total         2000         Total
 
     Coal Coke and Ores      31,310         33.0%       32,590         32.5%
     Pulp and Paper          13,032         13.8%       12,765         12.7%
     Farm and Food Products   9,692         10.2%        9,928          9.9%
     Minerals and Stone       9,602         10.1%        8,961          8.9%
     Metals                   9,413          9.9%        9,040          9.0%
     Petroleum Products       7,661          8.1%        8,356          8.3%
     Lumber and Forest
       Products               5,532          5.8%        7,116          7.1%
     Chemicals                4,359          4.6%        4,412          4.4%
     Autos and Auto Parts       596          0.6%        1,380          1.4%
     Other                    3,549          3.9%        5,686          5.8%
 
     Total                   94,746        100.0%      100,234        100.0%
 
     The table below sets forth Australian carloading information for March
 2001 and March 2000.  Included in Australia's March 2001 carloads are the
 results of the Australian Railroad Group (ARG), which is composed of the
 Australia Southern Railroad (ASR) and the Australia Western Railroad (AWR).
 On December 16, 2000, GWI contributed ASR (formerly wholly-owned) to ARG and
 now owns 50% of ARG:
 
     Australia by             March          % of        March          % of
     Commodity Group           2001         Total         2000         Total
 
     Grain                   17,460         23.6%        3,713         17.6%
     Alumina                 12,776         17.3%           --            --
     Iron Ores               12,711         17.2%        8,259         39.2%
     Bauxite                 10,011         13.5%           --            --
     Other Ores and Minerals  8,238         11.2%        1,246          5.9%
     Gypsum                   3,663          5.0%        2,599         12.3%
     Hook and Pull            3,539          4.8%        5,266         25.0%
     Other                    5,544          7.5%           --            --
 
     Total                   73,942        100.0%       21,083        100.0%
 
     Australia carloads in March 2001 increased by 52,859 carloads.  ASR's
 traffic increased by 3,469 carloads and the inclusion of AWR accounted for
 49,390 carloads.  ASR's grain traffic increased by 3,133 carloads and gypsum
 traffic increased by 1,064 carloads.  These increases were offset by a
 1,727 carload decrease in hook and pull traffic.  AWR's traffic was led by
 12,776 carloads of alumina, 10,011 carloads of bauxite and 10,614 carloads of
 grain.
     The table below sets forth Australian carloading information for the first
 quarter of 2001 and the first quarter of 2000.  Included in Australia's 2001
 carloads are the results of the Australian Railroad Group (ARG), which is
 composed of the Australia Southern Railroad (ASR) and the Australia Western
 Railroad (AWR):
 
     Australia by                Q1          % of           Q1          % of
     Commodity Group           2001         Total         2000         Total
 
     Grain                   40,671         20.2%       10,470         16.6%
     Iron Ores               35,871         17.8%       25,725         40.8%
     Alumina                 35,307         17.6%           --            --
     Bauxite                 30,973         15.4%           --            --
     Other Ores and Minerals 23,812         11.8%        3,299          5.2%
     Gypsum                   9,828          4.9%        9,711         15.4%
     Hook and Pull            8,955          4.5%       13,507         21.5%
     Other                   15,671          7.8%          266          0.5%
 
     Total                  201,088        100.0%       62,978        100.0%
 
     GWI is a leading operator of short line and regional freight railroads in
 the United States, Canada, Mexico, Australia and Bolivia, and provides freight
 car switching and related services to industrial companies that have extensive
 railroad facilities within their complexes. The Company operates in five
 countries on three continents over 7,700 miles of owned and leased track. It
 also operates over an additional 2,700 miles under track access arrangements.
 In October 2000, the Company was ranked 99th on Forbes magazine's list of the
 200 best small companies in America.
 
     This press release contains forward-looking statements regarding future
 events and the future performance of Genesee & Wyoming Inc. that involve risks
 and uncertainties that could cause actual results to differ materially
 including, but not limited to, economic conditions, customer demand, increased
 competition in the relevant market, and others.  The Company refers you to the
 documents that Genesee & Wyoming Inc. files from time to time with the
 Securities and Exchange Commission, such as the Company's Forms 10-Q and 10-K
 which contain additional important factors that could cause its actual results
 to differ from its current expectations and from the forward-looking
 statements contained in this press release.
 
 SOURCE  Genesee & Wyoming Inc.