Corporate History
The Jacksonville, St. Augustine and Indian River Railway Company was incorporated under the general incorporation laws of Florida to own and operate a railroad from Jacksonville in Duval county, through the counties of Duval, St. Johns, Putnam, Volusia, Brevard, Orange, Osceola, Dade, Polk and Hillsborough.
Florida state law chapter 4260, approved May 31, 1893, granted land to the railroad. At that time, it was already in operation from Jacksonville to Rockledge, the part south of Daytona having been constructed by them. The company had just filed a certificate changing and extending its lines on and across the Florida Keys to Key West in Monroe County.
The name was changed to the Florida East Coast Railway Company on September 7, 1895.
Florida East Coast Industries (FECI) incorporated in 1983 and was made the holding company for the Railway and the Commercial Realty/Flagler Development Company in 1984. The other subsidiaries are Orlando-based carrier, "EPIK Communication" and the logistics firm, "International Transit".
FECI began operating independently of the St. Joe Company on October 9, 2000 when St. Joe shareholders were given FECI stock.
On May 8, 2007, Florida East Coast Railway Company's parent, Florida East Coast Industries (FECI), announced that FECI would be purchased with private equity funds managed by Fortress Investment Group in a transaction valued at $3.5 billion. Fortress Investment acquired Florida East Coast Railway from Florida East Coast Industries in March, 2008.
Read more about this topic: Florida East Coast Railway
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