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Article: CPR, I&M Rail Link Close Deal on Midwest U.S. Rail Lines
- Article from:
- PR Newswire
- Article date:
- April 4, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...