Canadian National Railway Co. has signed a deal to acquire the Massena rail line, which runs between Quebec and New York, from CSX. The Massena line is out of Massena, NY and crosses the St. Lawrence Seaway up there at Watertown. With an annual income of $10 to 50 million this business employs 50 to 99 associates. Learn all about CSX and discover what we're doing for our customers, environment and communities. The railroad operates approximately 21,000 route miles (34,000 km) of track. Canadian National announced the signing of an agreement that will see CN acquire the Massena rail line from CSX, which represents more than 220 miles of track between Valleyfield (Quebec), in Canada, and Woodard (New York), in the U.S. August 29, 2019. Massena-area officials have expressed concerns that the sale would adversely impact the roughly 50 CSX employees in the region. North country economic development specialists said they fear that the plan, if approved, would affect users along the so-called Massena Line, which runs from Syracuse to Huntingdon, Quebec. The route serves cities including Beauharnois and Huntingdon in Canada and Massena, Norwood, Potsdam and Gouverneur in the USA. CN announced yesterday it has signed an agreement to acquire from CSX the 220-mile Massena rail line between Valleyfield, Quebec, and Woodard, New York. CN has signed an agreement to acquire CSX’s 350 km Massena line which runs from Valleyfield in Québec to Woodard in New York state. MASSENA — Canadian National Rail Co. announced Thursday that it had signed an agreement to acquire the Massena rail line from CSX. The line didn't see the traffic CSX hoped for, therefore, they're spinning it off. Canadian National (NYSE: CNI) is planning to acquire the 220-mile Massena rail line from CSX (NYSE: CSX), both companies said on August 29.. CSX SD-40-3 with train, (Nice audio) two months after CSX agreed to sell the 220 mile Massena line to CN. CN to acquire Massena Rail Line. CN officials view the purchase as a growth opportunity. CN'S Bessemer & Lake Erie Files Comprehensive "Application for a Minor Transaction" with STB. Details here. CSX Selling New York - Quebec Massena Line to CN Posted by Paul_D_North_Jr on Sunday, September 1, 2019 10:10 AM Says the line is 220 miles long, 60 employees to be affected: CN/CSX: Massena Line Sale Details By Joshua Davidson on October 11, 2019. CSX is a leading supplier of rail-based freight transportation in North America. (Id. Canadian National has a deal to buy the entire 220-miles of the Massena rail line now owned by CSX. Massena-area officials have expressed concerns that the sale would adversely impact the roughly 50 CSX employees in the region. CSX Transportation is classified under freight railroads and has been in business for 10 or more years. MONTREAL, Aug. 29, 2019 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) is pleased to announce the signing of an agreement that will see CN acquire the Massena rail line from CSX, which represents more than 220 miles of track between Valleyfield (Quebec), in Canada, and Woodard (New York), in the U.S. “It's important that we sit down and hear all … By acquiring the Massena Lines, Applicant seeks to preserve the CN System's direct connection with CSXT for overhead traffic that currently moves over the Massena Lines and to ensure that traffic using the Massena Lines would continue to move directly between the two systems, rather than through an additional railroad. CSX selling Massena line to CN; 60 jobs will be lost Friday, August 30, 2019 - 1:28 pm MASSENA -- An estimated 60 people will lose their jobs when a deal goes through to sell the CSX Massena line to CN. This Transaction will move the interchange between the CN System and CSX from Huntingdon, Quebec to Woodard, New York, and thus increase the CN System length of haul. CSXT, CN Put Massena Line Acquisition in Limbo Following Failed Negotiations. The documents filed with the Surface Transportation Board indicate three additional jobs will be created along the entire length of the line, but two jobs in Massena … The Massena Line currently sees one CSX manifest train in each direction linking Montreal and Selkirk, N.Y., plus locals. MONTREAL - Canadian National Railway Co. has signed a deal to acquire the Massena rail line, which runs between Quebec and New York, from CSX. Surface Transportation Board ruled this week that CSX and Canadian National could not prevent the Canadian Class 1 from interchanging with two New York short lines as a condition of sale, putting the sale of the Massena Line in doubt. Financial terms of the deal were not disclosed. The Montreal traffic moves via the Massena Line, and the line sale will greatly improve CN’s length of haul. CSX Transportation is a public business. “An estimated 60 employees will be impacted by the transaction, and we are working with them to provide support throughout the transition,” CSX said. Financial terms of … CSXT and Canadian National Railway have submitted a letter to the Surface Transportation Board regarding placing the CN (B&LE) acquisition of the CSXT Massena Lines in limbo, pending an appeal to the STB’s request to remove certain verbiage from the transaction before approving.
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