Thomson Reuters Business Description
Banyan Rail Services Inc. is engaged in the business of railroad tie reclamation and disposal. On September 4, 2009, it completed the acquisition of The Wood Energy Group, Inc., which is engaged in the business of railroad tie reclamation and disposal. The Company is focusing its efforts on railroad track construction, repair and maintenance businesses, but may explore potential acquisitions in other industries as well. Its services include picking up scrap railroad ties for Class I railroads and disposing of the ties by selling them to the landscape tie market or having the ties ground to create chipped wood for sale as biomass fuel to the co-generation market. During the year ended December 31, 2009, it picked up over 1,030,000 railroad ties, 73% of which were used by the co-generation market, 22% for the landscape market and 5% went to landfill.
