Union Pacific (UNP) Sees $115 Million Pre-Tax Gain From Land Transfer to Regional Transportation District
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Union Pacific Corporation (NYSE: UNP) today announced the closing of a $118 million transfer of land to the Regional Transportation District (RTD) in Colorado.
The agreement with the RTD involves Union Pacific's entire Boulder Industrial Lead, from Brighton Boulevard in Commerce City to Boulder, a distance of approximately 33 miles. Union Pacific has reserved a rail easement to continue serving its freight customers on the first eight miles of the lead. Freight operations will move to specified time windows once RTD begins construction.
This transaction will result in approximately a $115 million pre-tax gain for Union Pacific in the Second Quarter of 2009.
Union Pacific Corporation owns one of America's leading transportation companies.[SM]
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