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CSX Statement Regarding Federal Railroad Administration Draft Report

  CSX Corpotation : Saturday April 1, 2000
John W. Snow, chairman and chief executive officer of CSX Corporation (NYSE: CSX - news), which owns and operates the largest freight railroad in the eastern half of the United States, responded to a front-page story in today's Washington Post concerning Federal Railroad Administration findings of track defects on the railroad's 23,400 route-mile network.

"There can be no compromise on any safety condition on our railroad,'' Snow said. "We recognize some problems and openly welcome the FRA's draft report in the spirit it is offered -- a genuine and sincere interest in assuring even greater safety on our railroad.

"I have studied the draft report and discussed its findings personally with FRA Administrator Molitoris,'' Snow added. "CSX will continue to work closely with FRA officials and our labor unions to ensure safe rail operations. Our people, the Amtrak riders and commuters who are carried on our network, our customers and the communities we serve must have complete trust in our commitment to the highest safety standards.''

CSX has repaired or is in the process of repairing all of the defects identified in the report. "Where work is in progress, operations have been modified to ensure safe movement of trains,'' Snow noted.

Snow will be personally heading an internal company review of all track maintenance and improvement programs to make sure these efforts are fully effective.

In the past four years CSX has invested more than $4 billion in railroad capital improvements. Of this total, $791 million has been spent on rail replacement and repair, cross ties and surfacing of the roadbed.

CSX Corporation, headquartered in Richmond, Va., operates the largest rail network in the eastern United States, and also provides intermodal, container- shipping and contract logistics services.

Source: CSX Corporation

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This file last updated: Sunday, 02-Apr-2000 18:19:39 EDT
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