Printer Friendly

SWANSON RETIRES AS SOO LINE CHAIRMAN; BOARD CHANGED TO REFLECT PRIVATE OWNERSHIP

 SWANSON RETIRES AS SOO LINE CHAIRMAN;
 BOARD CHANGED TO REFLECT PRIVATE OWNERSHIP
 MINNEAPOLIS, May 1 /PRNewswire/ -- Donald F. Swanson, chairman of the Minneapolis-based Soo Line Corporation, retired from the board April 30. He was elected chairman of the board in 1989 and had served as a director since 1977 of the corporation and its predecessor, Soo Line Railroad Company.
 Swanson was actively involved with the board in Soo's 1985 acquisition of the Milwaukee Road which expanded the railroad's reach south of Chicago to Kansas City, Mo. and Louisville, Ky. As chairman, he presided over the board when Canadian Pacific acquired all outstanding shares of the Soo in 1990. He was Soo's last outside director.
 "We are indebted to Don Swanson for the important role he played to represent the independent shareholders of the Soo following the Canadian Pacific's tender offer to acquire the company," Ed Dodge, executive vice president of CP Rail System and Soo's chief executive officer said. "His depth of experience and knowledge enabled the company to undertake a smooth transition from public ownership to the Canadian Pacific Family following the acquisition."
 While Soo Line remains a separate company with headquarters in Minneapolis, it will operate in the future under the "CP Rail System" name. Soo Line Railroad, along with CP Rail in Canada and the Delaware & Hudson in the U.S. Northeast make up the combined rail system. Dodge, Soo's president and CEO, is also executive vice president of CP Rail System and responsible for all North American rail operations west of the Great Lakes.
 The combined rail system operates 20,000 miles of rail lines stretching from coast to coast in Canada and to such key U.S. transportation centers as Minneapolis, Chicago, Kansas City, Louisville, New York and Philadelphia. In 1991, CP Rail System generated $3.3 billion in revenues on 94 billion revenue ton miles. The system employs 27,000 people in the United States and Canada, including 4,500 in the Midwest where Soo operates.
 -0- 5/1/92
 /CONTACT: John Bergene of CP Rail System, 612-347-8209/ CO: CP Rail System, Soo Line Corporation ST: Minnesota IN: TRN SU: PER


AL -- MN010 -- 5552 05/01/92 15:01 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 1, 1992
Words:366
Previous Article:SMALL INVESTORS WISELY CASH IN JUNK BONDS
Next Article:COASTAL N.V., ARPECHIM ANNOUNCE JOINT VENTURE IN ROMANIA


Related Articles
CASCADE MEDICAL NAMES DIXON TO BOARD OF DIRECTORS
CLINTON MUST DECLARE WAR AGAINST DEFICIT, SAYS FORTUNE 500 CEO Debt Threatens to Ruin Clinton Presidency
LUCIANI TO JOIN GAMMA AS PRESIDENT & CEO; MUTUAL INVESTORS FUNDING CORPORATION, INC. TO MAKE $15 MILLION EQUITY INVESTMENT IN GAMMA
UTU, SOO RECESS TALKS, WILL MEET ON MONDAY
SOO, UTU TALKS BREAK DOWN; COMPANY ASKS UTU TO TAKE CONTRACT TO MEMBERS FOR VOTE
UTU-SOO REACH TENTATIVE AGREEMENT ON NEW LABOR CONTRACT
ISRAMCO, INC. CHAIRMAN TO SELL INTEREST IN JERUSALEM OIL AND EXPLORATION, LTD.
William H. Swanson Assumes Chairmanship of Raytheon Company.
Sprint Appoints New Member to Board of Directors.
Allegiant Funds Announces Additions to Board of Trustees.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters