Maine railway sale to benefit Twin Rivers Paper mill in Madawaska [From the web]

HERMON, Maine, Dec. 6, 2011 (Bangor Daily News) - Montreal, Maine & Atlantic Railway announced a tentative deal Tuesday to sell 25 miles of railroad tracks and effectively end a long-running dispute by allowing another shipper access to a Madawaska paper mill.

If the Federal Rail Administration and Maine Department of Transportation approve, J.D. Irving subsidiary Eastern Maine Railway will purchase the Madawaska-Van Buren-St. Leonard railroad line for an undisclosed amount. The governmental agencies have liens on the property. The sale could be completed next month, said Robert C. Grindrod, MM&A's president and CEO.

"We have an isolated piece of railroad there that doesn't seem to be generating a lot of traffic," Grindrod said Tuesday of his reasons for the sale, "and there seemed to be little or no prospect of regaining traffic from Twin Rivers."

Bangor Daily News - Hermon railroad announces deal to sell tracks to Madawaska mill

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