Covia, a provider of mineral-based and material solutions for the industrial and energy markets, has closed on the sale of the Winchester and Western Railroad to an affiliate of OmniTRAX, Inc.
Gross proceeds are $105 million in cash, subject to certain post-closing adjustments as set forth in the definitive agreement.
As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars.
