Pioneer Railcorp

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Pioneer Railroad Equipment Co., Ltd. (PREL) is a wholly owned subsidiary of Pioneer Railcorp., which is an Iowa-based railroad holding company. Formed in 1990, Pioneer Railroad Equipment Co., Ltd. leases equipment to Pioneer Railcorp. s subsidiary railroads. It also leases railcars and locomotives to unaffiliated third parties. The firm earns income from non-company railroads on its fleet of 1,264 railcars. Pioneer Railcorp. s subsidiary, Pioneer Railroad Services Inc., is a nationwide leader in providing businesses with railroad switching services, which include railcar storage, repair, cleaning and leasing. Some of the other subsidiaries of the parent company are Kendallville Terminal Railway Co. (KTR), Keokuk Junction Railway Co. (KJRY), Michigan Southern Railroad Co. (MSO) and Decatur Junction Railway Co. (DT) among others.