The U.S. Surface Transportation Board has approved Watco’s acquisition of the Great Lakes Central Railroad.
Based out of Owosso, Mich., Great Lakes Central operates approximately 400 miles of track in central and northern Michigan, including parts of the former Pennsylvania, New York Central, Grand Trunk Western, Pere Marquette, and Ann Arbor. Watco has been an equity investor in Great Lakes Central since 2013.
Watco announced its plans to purchase the railroad outright earlier this year, but the STB wanted more information on how the company would maintain service on the route. Watco also operates the nearby Ann Arbor and there was concerns that the company would divert traffic from GLC…