Pan Am Railways (PAR), formerly known as Guilford Rail System (GRS), is a holding company that owns and operates several Class 2 New England railroads. It’s a subsidiary of Pan Am Systems, formerly known as Guilford Transportation Industries (GTI) and is headquartered in North Billerica, Ma.. Guilford bought the name, colors and logo of Pan American World Airways in 1998. Currently, the primary subsidiaries of Pan Am Railways are:

Boston and Maine Corporation (BM)

Maine Central Railroad Company (MEC)

Portland Terminal Company (PTM)

Springfield Terminal Railway Company (ST)

The BM and MEC are operated under lease by ST. 

Pan Am Railways