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CONRAIL, NORFOLK SOUTHERN EXPLORE FORMING JOINT VENTURE TO COMPETE FOR DOMESTIC TRUCKLOAD FREIGHT BUSINESS

 PHILADELPHIA, Nov. 18 ~PRNewswire~ -- Norfolk Southern Corporation (NYSE: NSC) and Consolidated Rail Corporation (NYSE: CRR) (Conrail) today announced that they are exploring a joint venture to create a domestic retail intermodal product to compete for truckload business.
 Retail service would be sold, marketed and administered under the banner of Triple Crown Services, currently a Norfolk Southern subsidiary that has successfully marketed RoadRailer (R) service for the past six years. Conrail will provide extended geographic coverage in the Northeast.
 Conrail and NS will be equal partners in the new entity.
 Both railroads will continue to market wholesale intermodal rail services through other sales channels, including existing third-party retailers, double-stack network operators, and truckload carrier partnerships.
 A joint statement by David R. Goode, chairman, president and chief executive officer of Norfolk Southern, and James A. Hagen, chairman, president and chief executive officer of Conrail, said: "Every year we lose considerable revenue to the highways. A combined NS~Conrail intermodal venture will permit our carriers to compete at the retail level, placing traffic now moving via highway onto the two railroads.
 "Our mission is to establish a rail-based retail intermodal transportation service utilizing our rail networks to meet or exceed a customer's door-to-door needs in the high-service truckload market."
 The Triple Crown Services joint venture will provide a single point of sales and accountability for door-to-door service on lengths of haul over 400 miles; maximize return on investment through high equipment utilization, broad geographic scope and increased market share; and use state-of-the-art equipment including 48-foot and 53-foot domestic containers and RoadRailer units.
 Initial traffic corridors will include New York-Chicago, Chicago- Atlanta, and Atlanta-New York, allowing the placement of traffic now moving on the highway into containers or RoadRailers on the two railroads' existing intermodal trains.
 ~delval~
 -0- 11~18~92
 ~CONTACT: Andrea Just or Robert L. Libkind of Conrail, 215-209-4594, or Robert C. Fort, 804-629-2714, or Richard W. Harris, 404-529-2193, both of Norfolk Southern~
 (NSC CRR)


CO: Consolidated Rail Corporation; Norfolk Southern Corporation ST: Pennsylvania IN: TRN SU:

MJ -- PH027 -- 2518 11~18~92 16:09 EST
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Publication:PR Newswire
Date:Nov 18, 1992
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