And it seems likely that the next few years will see a continued industry consolidation.

Industry consolidation has been in high gear for the last several years.

At a time of lower earnings and industry consolidation, he said, "there was no way for the company to meet their expectations."

Owners said they expected savings in operating costs from industry consolidation.

Still, previous predictions, almost annually, of an industry consolidation have not come true.

He said industry consolidation made it difficult for suppliers to be profitable.

Industry consolidation is necessary and will continue as there's too much capacity in the market.

The industry consolidation has helped a bit because more rail yards and track systems share the same owner.

And, industry consolidation has meant intensified competition among fewer companies.

It may mark the start of a wave of industry consolidation.