First American Railways Inc. moves ahead with Florida Fun-Train operations.HOLLYWOOD, Fla.--(BUSINESS WIRE)--Nov. 6, 1996--First American Railways Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FTRN FTRN Fair Trade Resource Network ) announced Wednesday that it has entered into a marketing agreement to establish a strategic alliance with Universal Studios Florida Universal Studios Florida is a theme park in Orlando, Florida, part of the Universal Orlando Resort. The park, which opened on June 7 1990, lets visitors "Ride the Movies." It offers many shows and rides, along with countless other things for guests to see and do. for advertising, promotion, publicity, sponsorship and other marketing programs in connection with the company's introduction and operation of the Florida Fun-Train. Further, the company stated that it has entered into a long-term, track rights agreement with CSX Transportation "CSX" redirects here. For the parent company, see CSX Corporation. For other uses, see CSX (disambiguation). CSX Transportation (AAR reporting marks CSXT) is a Class I railroad in the United States, owned by the CSX Corporation. Inc., for the use of CSXT's tracks along the West Palm Beach/Greater Orlando rail corridor. Pursuant to the agreement CSXT CSXT Civilian Space Exploration Team CSXT Chessie System Railway and Seaboard Coast Line Railroad Transportation (Jacksonville, FL, USA) has, among other things, the right to name one representative to the company's board of directors and has received warrants to purchase common stock. The company announced that it received a letter of intent from the Florida Department of Transportation The Florida Department of Transportation (FDOT) is a decentralized agency charged with the establishment, maintenance, and regulation of public transportation in the state of Florida[1]. for use of certain tracks in Dade, Broward and Palm Beach Counties in connection with the Florida Fun-Train's operations, and for the use of an existing passenger terminal in Broward County. According to Ray Monteleone, the company's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , "each of these developments is significant in its own right, but taken together they demonstrate that First American Railways is well on its way to having the Florida Fun-Train operational next fall." In other corporate developments, the company announced that Glenn P. Michael, the current president and chief executive officer of Brazil's first private railroad, Novoeste Railways, and formerly a senior officer of CSX Transportation Inc. and Southern Pacific Rail Corp., was recently elected to the board of directors of the company. Monteleone said that, "everyone at the company is pleased to have Michael join the board of directors, especially given his vast depth of experience in the railroad industry." First American Railways Inc. is a publicly held, entertainment based passenger rail company headquartered in Hollywood, whose mission statement is: To be the recognized leader in providing an innovative, quality entertainment based passenger rail service, offering our customers, employees, and shareholders an experience which exceeds their expectations. CONTACT: First American Railways Inc., Hollywood Raymond Monteleone, President 954/920-0606 |
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