Canadian Pacific announced Wednesday, Nov. 20 that it has come to an agreement that would result in the Class I carrier acquiring the Central Maine & Quebec Railway (CM&Q).
Financial terms of the acquisition were not disclosed in a news release announcing the deal.
CP’s purchase from Fortress Transportation and Infrastructure Investors LLC now gives the carrier trackage and facilities from St. Jean, Quebec, Canada, to Searsport, Maine, and is expected to close by the end of the year.
SMART Transportation Division represents 52 members on the CM&Q in the Transportation, Mechanical and Engineering Departments who belong to GO-049, which is represented by General Chairman Rick Lee. CM&Q owns 481 miles of rail lines primarily in Quebec and Maine.
Read the full release from PR Newswire.
Related News
- New SEPTA operator’s stabbing shows how members’ safety is at risk
- SMART-TD Statement on Railroad Safety Enhancement Act of 2024
- SMART-TD, regulators testify that railroads can’t be trusted to regulate themselves
- K.C. bus agreement follows SMART-TD’s focus on coaching local officers
- Section 6 suggestions deadline is July 24
- Retired General Chairperson David Haack passes
- NTS Day 3: Railroad safety improvements driven by member reports
- NTS Day 3: America’s transit safer because of union member efforts
- TD NTS: STB chair and vice chair address officers, assure labor will have input
- TTD president: Labor needs to stick together to maintain progress