Central Maine and Quebec Railway purchased by Canadian Pacific

Source: MGN
Source: MGN(WTOK)
Published: Nov. 21, 2019 at 2:57 PM EST
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Central Maine and Quebec Railway has been bought by Canadian Pacific.

That company is a transcontinental railway, meaning that Class 1 railroad is returning to Maine.

It involves nearly 500 of rail lines in Maine and Quebec.

This deal will give Canadian Pacific customers direct access to ports in Searsport and St. John, New Brunswick.

Maine's Commissioner of Transportation Bruce Van Note provided us with this statement: “The partnership and investments made by the Central Maine and Quebec Railway and the State of Maine helped lay the groundwork for this acquisition. The return of a Class 1 railroad to our state provides for more competitive shipping options and more seamless access to national rail routes for the Port of Searsport and businesses in Maine: better transportation connections to the larger rail system provide better economic opportunities for the State. We look forward to working with the Canadian Pacific Railroad and thank CP for its investment in our state and its people.”