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Tag: railroad

Railroad in Explosion Has Its Canadian Assets Sold

| June 30, 2014

PORTLAND, Maine (AP) – The $15.85 million sale of a bankrupt railroad responsible for a deadly oil train derailment in Quebec is now complete with transfer of the company’s Canadian assets to new ownership. More than a month ago, parties completed the sale of U.S. assets of Montreal, Maine, and Atlantic to a subsidiary of […]

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Company Wins Bidding for Montreal, Maine and Atlantic Railway.

| January 21, 2014

PORTLAND, Maine (AP) – A company affiliated with Fortress Investment Group has won the bidding for a Maine-based railroad that went bankrupt after a fiery oil train derailment killed 47 people last summer in Canada. A person close to the auction told The Associated Press that a Fortress subsidiary won the closed-door bidding Tuesday for […]

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Rail Tax Credit

| January 8, 2013

The “fiscal cliff” legislation approved by Congress and signed by President Obama last week included an important provision for the railroad industry.  Dick Palm looks at what the impact will be for the Maine Northern Railroad and for the people of Aroostook County.

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