STB approves Canadian Pacific’s acquisition of Central Maine & Quebec
Canadian Pacific’s acquisition of the Central Maine & Quebec Railway (CM&Q) was approved by the federal Surface Transportation Board (STB) on May 1, and will take effect June 18, 2020.
The purchase from Fortress Transportation and Infrastructure Investors LLC, officially by the wholly owned Soo Line subsidiary of CP, was originally announced Nov. 20, 2019, and with approval now gives the Class I carrier trackage and facilities running from St. Jean, Quebec, Canada, to Searsport, Maine.
In a filing with the STB, CP said it plans to upgrade CM&Q’s system to Class III standards with an investment of up to $75 million. STB members had no objections to the acquisition and dismissed comments and conditional requests by Springfield Terminal Railway Company, among others.
CM&Q owns approximately 244 miles of rail lines in Vermont and Maine and has operating rights across another 57 miles, according to the STB. The Canadian portion of CM&Q has about 237 miles of track which also will be transferred in the sale.
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.