SC Gov. Henry McMaster Voices Support for Union Pacific-Norfolk Southern Merger
South Carolina’s governor backs the proposed Norfolk Southern–Union Pacific rail combination, adding to more than 2,000 stakeholders in support.
Rhea-AI Summary
Norfolk Southern (NSC) and Union Pacific (UNP) received public support from South Carolina Governor Henry McMaster for their proposed combination, expressed in a letter to the Surface Transportation Board.
McMaster cited South Carolina’s role as a manufacturing, logistics and trade hub and stressed that dependable freight rail is essential for moving raw materials and finished goods, reducing congestion, improving safety and supporting environmental stewardship. He wrote that expanding the role of rail and the proposed combination could reinforce South Carolina’s position as a national leader in commerce and trade.
Norfolk Southern President and CEO Mark George said the combination is expected to create more seamless single-line access to more destinations, move an estimated 2.1 million truckloads off congested highways and expand South Carolina’s access to western markets. The governor’s letter adds to support from more than 2,000 stakeholders nationwide, including about 40 state and local leaders in South Carolina.
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Governor cites economic growth, supply chain efficiency and expanded opportunities for
In the letter, Gov. McMaster highlighted
"I write in support of the proposed combination of Union Pacific and Norfolk Southern and to share my perspective on what this transaction could mean for the
McMaster continued, "I believe the proposed combination of Union Pacific and Norfolk Southern presents meaningful opportunities to reinforce
"We are grateful to have Gov. McMaster's support and appreciate his recognition of what this combination can mean for
Gov. McMaster's letter adds to the growing list of more than 2,000 stakeholders who see the benefits the transaction will deliver to customers and communities throughout the country. In
For more information, visit AmericasGreatConnection.com.
About Union Pacific
Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.
About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.
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SOURCE Norfolk Southern Corporation
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Who did Governor Henry McMaster address with his support for the Union Pacific–Norfolk Southern combination?
Governor Henry McMaster expressed his support for the proposed Union Pacific–Norfolk Southern combination in a letter to the Surface Transportation Board, the federal regulator that will review the transaction.
What benefits does Norfolk Southern highlight from the proposed combination?
Norfolk Southern’s President and CEO Mark George said the proposed combination would create more seamless single-line access to more destinations, provide businesses with better service and greater reach, move an estimated 2.1 million truckloads off congested highways, reduce costs for everyday consumers, and expand South Carolina’s access to western markets while strengthening its role as a gateway for global commerce.
How many stakeholders have expressed support for the proposed transaction?
The announcement states that more than 2,000 stakeholders see benefits from the proposed transaction for customers and communities across the country. In South Carolina specifically, approximately 40 state and local leaders have voiced support for a transcontinental rail network.
How does Governor McMaster describe South Carolina’s economic position in relation to the rail combination?
Governor McMaster describes South Carolina as a leading manufacturing, logistics and trade hub and a premier destination for investment, supported in part by transportation networks. He believes the proposed Union Pacific–Norfolk Southern combination presents meaningful opportunities to reinforce the state’s position as a national leader in commerce and trade.
Where can stakeholders find more information about the proposed Union Pacific–Norfolk Southern combination?
For additional information about the proposed combination and its supporters, the announcement directs readers to visit AmericasGreatConnection.com.