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5/5/2006 5/5/2006

Federated Railways purchases Tuscola & Saginaw Bay Railway
Federated Railways Inc. recently acquired the Tuscola & Saginaw Bay Railway Co. Inc. (TSB).
The 405-mile short line moves freight between Ann Arbor and northwest Michigan, interchanges with CSX Transportation, and provides rail equipment, rail-car and track repairs and maintenance services. TSB and state officials currently are discussing plans to provide year-round passenger-rail service from Ann Arbor to Traverse City and the Boyne Mountain area.
“Our goal is to continue to provide quality customer transportation services to all of the areas we serve in Michigan,” said Mike Bagwell, Federated Railways president and chief executive officer — who’ll also serve as TSB’s president and CEO — in a prepared statement.
A Federated Financial Corp. of America subsidiary, Federated Railways leases passenger cars and locomotives to transit agencies.