1981–2020 Guilford Transportation Industries (GTI) was formed in 1981. GTI entered the railroad business in 1981 with its purchase of the
Maine Central Railroad Company from
U.S. Filter Corporation. This was followed by its 1983 purchase of the
Boston & Maine Railroad, and in 1984 it purchased the
Delaware and Hudson Railway (D&H). In 1988, GTI declared D&H bankrupt. Francis DiCello, an appointed bankruptcy trustee, oversaw the estate while the
New York, Susquehanna & Western Railway managed it employing the D&H workforce. Susquehanna's management expired in early 1990 and the trustee managed it directly until selling in 1991 to the
Canadian Pacific Railway. GTI purchased the name, colors, and logo of
Pan American World Airways in 1998 and Pan Am Systems was established that same year. In March 2006, GTI changed its name to Pan Am Railways. The company was privately owned by
Timothy Mellon, an heir to the
Mellon banking fortune, and several other stakeholders including former
Penn Central employee David Fink and son David A. Fink.
CSX acquisition In July 2020, Pan Am Systems was put up for sale. On March 25, 2021, after numerous letters questioning CSX's acquisition of Pan Am Railways parent Pan Am Systems from the Massachusetts Bay Transportation Authority, the Massachusetts Department of Transportation, the Commonwealth of Massachusetts, Vermont Rail System, as well as many other local political figures and community leaders from other New England states, the Surface Transportation Board ruled the acquisition as "Significant" meaning that a more rigorous review process would be necessary. On April 30, 2021, CSX submitted a 478-page plan of purchase outlining a broad range of topics, from implementations of track upgrades to the controversial issue of Norfolk Southern intermodal routing, as well as the fate of Pan Am's hodgepodge fleet of aging motive power, which is made up of EMD and GE locomotives from railroads such as Conrail, NS, CSX, the Milwaukee Road, and Kansas City Southern. On May 26, 2021, the federal regulators of the Surface Transportation Board rejected CSX's purchase application, deeming it "incomplete." The board cited "contradictions" and "lack of necessary information" to properly judge the acquisition, and therefore could not rule on the matter. While CSX has the option of re-submitting a revised application, which it has motioned toward in its official statement, the transaction stands on uncertain ground. On July 30, 2021, the Surface Transportation Board accepted a revised merger application for consideration, allowing CSX to move forward with the acquisition on Pan Am Systems. The decision determined that an environmental and historic review are unnecessary and establishes criteria for additional filings, public comments, and a deadline for a final Surface Transportation Board decision. The STB approved the sale of Pan Am Systems to CSX on April 14, 2022, At midnight on June 1, 2022, CSX began operating Pan Am Railways and Pan Am Systems was merged into a temporary subsidiary of CSX called 747 Merger Sub 2 which will become the new Pan Am Systems, the new Pan Am Systems and Pan Am Railways will eventually merge into CSX. ==Divisions==