PORTLAND (AP) — The company that purchased assets of the railroad responsible for a fiery oil train derailment that killed 47 people in Canada says it is seeing growth as it rebuilds the business. Central Maine and Quebec Railway has nearly doubled its business from June, but it has yet to reach levels before the […]
central maine and quebec railway
Posted inBusiness
Head of new Maine railroad company says he’s building transportation system to last
BANGOR — The man behind the controls of the company that took over for the defunct Montreal, Maine and Atlantic Railway says he plans to turn a profit by 2015. That’s not an easy feat, according to John Giles, CEO of Central Maine and Quebec Railway, considering Montreal, Maine and Atlantic Railway was profitable in […]
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Posted inLetters
M. Ballard: Providing a better answer
The new Central Maine and Quebec Railway is looking at the possibility of transporting crude oil on the former Montreal Maine and Atlantic Railroad line, and wants to build a nine-mile bypass route around Lac-Megantic that would cost between $50 million to $80 million. That is a bad investment because a competitor wants to build […]
Posted inMaine, sj-web
Sale of bankrupt railroad blamed for deadly derailment in Quebec is due to close next week
PORTLAND — The sale of the Maine-based railroad responsible for a deadly oil train derailment in Quebec is due to completed next week. Chapter 11 trustee Robert Keach said Thursday that the $15.85 million sale of Montreal, Maine and Atlantic Railway will close on May 15. A bankruptcy judge gave permission to delay a separate […]
Posted inMaine, sj-web
New owner, new name: MMA to become the Central Maine and Quebec Railway
HERMON — Once the sale of the bankrupt Montreal, Maine and Atlantic Railway is complete, that name will be filed away in the history books. Railroad Acquisition Holdings, the affiliate of New York-based investment firm Fortress Investment Group that is in the process of buying Montreal, Maine and Atlantic Railway out of bankruptcy, will change […]