| February 22, 2016 |
| Washburn Switch Business Park Receives CSXSelect Site Designation JACKSONVILLE, Fla. – February 22, 2016 – CSX (Nasdaq: CSX) announced today that the Washburn Switch Business Park in Cleveland County, North Carolina has been designated a CSX Select Site. Select Sites are development-ready properties along the CSX network where standard land use considerations and comprehensive due diligence items have been previously addressed. These properties are well positioned to meet manufacturers’ needs, significantly reducing the time required to construct facilities and ultimately bring products to market. “The fast-growing metropolitan areas of Charlotte and Asheville, North Carolina, as well as Greenville-Spartanburg, South Carolina, are all within a 60-mile radius of this site,” said Carl Warren, director of ports and industrial development at CSX. “The Washburn Switch Business Park offers one of the best available rail-served industrial sites in this region.” CSX introduced the Select Site program in 2012 to better serve new and existing customers on its network. CSX partners with The Austin Company, a nationally-known site selection consulting firm, to screen candidate sites and assist communities with the application and certification process. “Over the last four years, Cleveland County and the City of Shelby have taken the right steps to position this property to be ready for rail-served development,” said Jonathan Gemmen, senior location consultant for The Austin Company. “From purchasing the property, to designing and permitting utility extensions, to conducting the necessary environmental studies, these proactive steps send a welcoming message to prospective companies.” In early 2017, North Carolina Department of Transportation plans to open the first leg of the U.S. Highway 74 Bypass around the north side of Shelby. “With an interchange at Washburn Switch Road, the Bypass will provide interstate-quality access just a few hundred yards south of this site,” said Eddie Holbrook of the Cleveland County Board of Commissioners. “With several other industrial facilities in the neighborhood, we’ve known that this community should continue to see growth in the manufacturing sector,” said Kristin Reese, executive director of the Cleveland County Economic Development Partnership (CCEDP), the community’s industry recruitment arm. The Select Site designation was publicly announced today following CCEDP’s board meeting in Shelby, North Carolina. The Washburn Switch Business Park is the third site in North Carolina to be designated a CSX Select Site. To receive CSX Select Site designation, the location must meet a rigorous list of criteria, including infrastructure and utility availability, environmental reviews, appropriate zoning and entitlement, rail serviceability, proximity to highways or interstates, and other attributes. Once certified, the sites are featured on www.csxselectsites.com, a web portal that includes additional information, promotional materials and direct marketing to site selection professionals. To learn more about CSX Select Sites, visit www.csxselectsites.com. About CSX CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 190 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX). |
| February 22, 2016 |
| CSX Joins Nasdaq-100 Index JACKSONVILLE, Fla., -- February 22, 2016 – This morning as of market open, CSX (Nasdaq: CSX) became a component of the Nasdaq-100 Index® (Nasdaq:NDX), the world’s preeminent large-cap growth index. The Nasdaq-100 Index is composed of the 100 largest non-financial stocks listed on the Nasdaq Stock Market based on market capitalization. “We are pleased to join the influential and successful group of companies that make up the Nasdaq-100 Index,” said Frank Lonegro, executive vice president and chief financial officer. “Inclusion on the Nasdaq-100 Index reflects CSX’s strong track record of delivering shareholder value despite challenging business conditions.” CSX currently has a market capitalization of approximately $25 billion. Launched in 1985, the Nasdaq-100 Index now represents more than $5 trillion in market capitalization and includes industry-leading companies in a variety of sectors from science and technology to retail and transportation. About CSX and its Disclosures CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 190 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. This announcement, as well as additional financial information, is available on the company's website athttp://investors.csx.com. CSX also uses social media channels to communicate information about the company. Although social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information CSX posts on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in the company to review the information we post on Twitter (http://twitter.com/CSX) and on Slideshare (http://www.slideshare.net/HowTomorrowMoves). The social media channels used by CSX may be updated from time to time. More information about the company and its subsidiaries is available at www.csx.com and on Facebook (http://www.facebook.com/OfficialCSX). |
to obtain a copy of the newsletter at the rate of $6.00/ copy or to join the society and receive 4 issues per year, contact James Rowland at century430@hotmail.com .
| February 17, 2016 |
| CSX Chief Financial Officer Discusses Near- and Long-Term Expectations and Strategy JACKSONVILLE, Fla., -- February 17, 2016 – CSX (Nasdaq: CSX) Chief Financial Officer Frank Lonegro today highlighted the company’s track record of success during the energy market transition and updated expectations for company performance at the Barclays Industrial Select Conference in Miami, Florida. Over the past five years, CSX has grown its merchandise and intermodal business faster than the economy and delivered strong pricing and efficiency gains in the face of a secular decline in coal and shifts in other energy markets. As a result, the company delivered compound annual growth in earnings per share of 4 percent during that period and an operating ratio below 70 percent for 2015. However, the intensifying coal headwinds and the impact of the strong U.S. dollar and low global commodity prices that impacted CSX in 2015 are expected to further challenge results in 2016. CSX expects coal volume to decline more than 20 percent and most other markets to continue posting year-over-year declines this year. “Based on the trends so far this year, we expect volume to decline in the mid-high single digits this quarter and to gradually moderate as we move through the year,” Lonegro said. “We expect first quarter earnings to decline significantly, reflecting both this volume environment and the fact that we are cycling more than $100 million in unique items from the first quarter of 2015.” For 2016, the company continues to target $200 million in productivity savings. In addition, Lonegro reiterated that CSX continues working to further reduce structural resources and to match resources with volume declines near term while also remaining well-positioned to serve demand shifts once the economic challenges begin to subside. “In this environment, we continue to focus on the things most in our control, including delivering safe, reliable service that increases operational efficiency and supports strong pricing for the value we provide to customers,” Lonegro said. “As we look toward a future with significantly less coal, our strategy includes rationalizing and realigning the network to match decreased demand in some markets and adjust to increases in others, investing in clearance and terminal projects to leverage intermodal growth, and optimizing technology to serve the CSX of tomorrow as we continue to target a mid-60s operating ratio longer term.” About CSX and its Disclosures CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 190 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. This announcement, as well as additional financial information, is available on the company's website at http://investors.csx.com. CSX also uses social media channels to communicate information about the company. Although social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information CSX posts on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in the company to review the information we post on Twitter (http://twitter.com/CSX) and on Slideshare (http://www.slideshare.net/HowTomorrowMoves). The social media channels used by CSX may be updated from time to time. More information about the company and its subsidiaries is available at www.csx.com and on Facebook (http://www.facebook.com/OfficialCSX). |
|
||||||
|
||||||
|
||||||
|
||||||
|
| February 12, 2016 |
| CSX to Streamline Mechanical Operations at 16 Locations JACKSONVILLE, Fla. – February 12, 2016 – As part of CSX’s (Nasdaq: CSX) ongoing commitment to driving network improvement and resource efficiency to match demand, the company is streamlining operations at 16 lower-volume mechanical facilities. Operations will be reduced at car shops in Montgomery, Alabama; Washington, D.C.; Baldwin, Florida; Evansville and Indianapolis, Indiana; New Orleans, Louisiana; Detroit and Grand Rapids, Michigan; Wilmington, North Carolina; Kenmore, New York; Ashtabula, Ohio; Erie and Pittsburgh, Pennsylvania; Florence, South Carolina; Richmond, Virginia; and Huntington, West Virginia. The streamlining is designed to better coordinate shop activities across the CSX network while maintaining inspection and maintenance performance levels. These changes will impact approximately 116 CSX mechanical employees, some of whom will be given opportunities to fill positions in other higher-demand areas of the network. CSX human resources personnel are working directly with affected employees to identify possible opportunities and assist in the transition. Train operations through the affected areas will continue as normal, and CSX will continue to deliver the high level of safety and service that customers and communities expect. About CSX CSX, based in Jacksonville, Florida, is a premier transportation company. Through its subsidiaries, it provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 190 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX). |
| February 10, 2016 |
| CSX Corporation Chief Financial Officer to Address Barclays Industrial Select Conference JACKSONVILLE, Fla. – February 10, 2016 – Frank Lonegro, CSX Corporation (Nasdaq: CSX) executive vice president and chief financial officer, will address the Barclays Industrial Select Conference in Miami Beach, FL on Wednesday, February 17th, at 8:15 a.m. Eastern time. Access to the webcast will be accessible through http://investors.csx.com. A replay and accompanying audio will be available following the conclusion of this event. This announcement, as well as additional financial information, is available on the company’s website at http://investors.csx.com. About CSX and its Disclosures This announcement, as well as additional financial information, is available on the company's website at http://investors.csx.com. CSX also uses social media channels to communicate information about the company. Although social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information CSX posts on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in the company to review the information we post on Twitter (http://twitter.com/CSX) and on Slideshare (http://www.slideshare.net/HowTomorrowMoves). The social media channels used by CSX may be updated from time to time. More information about CSX Corporation and its subsidiaries is available at www.csx.com and on Facebook(http://www.facebook.com/OfficialCSX). CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 190 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. |
