G&W Buying Into Maryland Midland.(Genesee and Wyoming Inc.)(Maryland Midland Railway Inc.)(Brief article)

Short line and regional railroad operator Genesee & Wyoming is adding another set of tracks to its portfolio. G&W said it will pay about $29 million to acquire 87.4 percent of the 63-mile Maryland Midland Railway.

The small carrier''s tracks run roughly in an area from outside Baltimore on the east to near Hagerstown on the west, and brush up to Maryland''s border with Pennsylvania. It is about 40 miles from Genesee''s York Railway in southeastern Pennsylvania.

The Maryland Midland interlines with CSX Transportation, owns 10 locomotives and controls more than 400 freight cars. For its fiscal year through April 2006, the carrier reported revenue of $7.8 …