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RailAmerica Nets $32.5 Mil in Texas Manufacturing Plant Sale

GATESVILLE, TX-A planned disposition of non-core assets has Texas manufacturing site, totaling more than 200,000 sf, changing hands. RailAmerica sells the property northwest of Austin to The Heil Co., a Tennessee-based firm.

By Connie Gore | Updated on November 14, 2000

GATESVILLE, TX-RailAmerica Inc., the world’s largest short line and regional operator, is disposing of its share of a manufacturing facility, which has more than 200,000 sf of production space, for $32.5 million.

Chattanooga, TN-based The Heil Co. is buying Kalyn/Siebert LP, RailAmerica’s discontinued specialty truck trailer manufacturing subsidiary, which is located about 90 miles northwest of Austin. The disposition is part of a strategy by RailAmerica, based in Boca Raton, FL., to reduce debt via the sale of non-core assets. The sale will close in about 30 days, subject to regulatory approval. The investment banking firm of ING Barings, LLC has represented RailAmerica in the deal.

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