(BRK.A), (BRK.B)
BNSF Railway Company is taking over the route served by Montana Rail Link. MRL has had a lease on the track from BNSF since 1987.
Based in Missoula, Montana, Montana Rail Link (MRL) is a Class II regional railroad that operates over 900 route miles of track in Montana and Idaho and has nearly 1,200 employees.
MRL President Derek Ollmann announced the change in a memo to his employees where he detailed that BNSF will resume operation and maintenance of MRL, and will provide for the continued employment of all MRL employees.
“BNSF operating the line as part of their network will ensure competitive access to global markets while continuing to provide the consistent and reliable service for our customers,” Ollmann wrote in his letter to employees.
Ollmann noted that 90% of the volume on MRL was BNSF trains.
The transfer is subject to government approval.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.