CN and Watco reach agreement on sale of rail lines in Northern Ontario, Wisconsin, and Michigan
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Topics: WATCO ONTARIO WISCONSIN MICHIGAN
In Ontario, Watco will continue freight operations as well as the Agawa Canyon Train Tour. Watco has also signed a Memorandum of Understanding with the Missanabie Cree First Nation regarding partnership opportunities for the Algoma Central Railway (ACR).
In both the United States and Ontario, CN will continue to play a central role as the transferred segments will remain connected to CN’s tri-coastal network, safely and reliably linking businesses to markets around the world.
The terms of the agreement were not disclosed and the acquisition of the rail lines in the United States is subject to regulatory authorization by the Surface Transportation Board. ■