Judging by the pattern of the rust/paint edge under the "CSX" it looks to me like it was just media-blasted to change the reporting marks and put the logo on. It does the job and is s fraction of the cost of repainting the whole car. Occassionally we do the same at Havelock over old paint -- either paint right over it where needed or do some spot blasting if the paint is in bad shape -- but never with rust like that. Boxcar market gets smaller and smaller every year though, it's hard to justify putting any more money into 'em than you have to.