NASHVILLE & EASTERN RAILROAD LATEST RRIF LOAN RECIPIENT

The Federal Railroad Administration recently announced that the Nashville & Eastern Railroad would be the latest recipient of a Railroad Rehabilitation and Improvement Financing (RRIF) loan. The NERC will use the loan, totaling $4.6 million, to purchase fifty new high-capacity covered hopper rail cars and two rebuilt locomotives. The locomotives and 25 of the 50 rail cars will be used primarily to serve a major new customer, Lojac Minerals, for which NECR will take sand from Lojac’s mine in Monterey, TN to its manufacturing facilities in Lebanon and Hermitage, TN, where it will be used to produce concrete, concrete blocks, and other materials. The second set of 25 hoppers will be used for other anticipated traffic increases.

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Kenwal Steel to Build Steel Service Center in Lebanon, Tennessee

LEBANON, Tenn. (August 31, 2006) — Groundbreaking is expected in late September, with facility launch in June 2007.

[ 8/31/2006 ]  By: NEWS BRIEFS

Kenwal Steel has announced plans to construct a new state-of-the-art service center to serve a growing customer base in the South. The 100,000 square foot facility in Lebanon, Tenn., represents Kenwal’s “Gateway to the South” and will process a full range of flat rolled steel products.

“The need to be closer to our customers has never been greater, and this investment responds to that call,” said Kenwal Steel Chairman and CEO Kenneth Eisenberg. “Genuine interest in growing new business and helping to provide excellent manufacturing jobs for Tennesseans allowed Kenwal’s vision for continuing its tradition of service excellence and innovation to become a reality.”

Eisenberg cited the hard work and consistent efforts of numerous state and local officials who helped make this project come to fruition.

The Lebanon Facility will include two new coil-slitting systems for both light and heavy gauge material up to 72” wide with an automated banding line to accommodate specific customers packaging needs. Inbound rail service will be provided by the Nashville Eastern Railroad. As many as 70 full-time jobs will be generated at peak employment.

The service center will be located at the former Cherry Farm Property site off Highway 109, just North of Interstate 40, about 22 miles from downtown Nashville.

Kenwal Steel Corp. is based in Dearborn, Mich., will celebrate its 60th year in business in 2007. Groundbreaking is expected in late September, with facility launch in June 2007.