Article: CPR, I&M Rail Link Close Deal on Midwest U.S. Rail Lines

 
 New Railway Created 

CALGARY, Alberta, April 4 /PRNewswire/ -- Canadian Pacific Railway (CPR) announced today it concluded the $250-million U.S. sale of 1,143 miles (1,839 km) of its lines and associated assets in the Midwestern United States to I&M Rail Link (IMRL).

The new railway, which is based in Davenport, Iowa, will begin operations at 12:01 a.m., April 5. The company is majority-owned by Dennis Washington, of Missoula, Mont.

"The sale of these lines is a positive new development for the rail and shipping industries. The deal ensures continued, competitive rail service and employment in the region, and ...

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