Fieldcrest Cannon Inc., owner of the Bangor and Aroostook Railroad, on Wednesday
Fieldcrest Cannon Inc., owner of the Bangor and Aroostook Railroad, on Wednesday announced that it has agreed to sell the line to Iron Road Railways Inc. of Washington, D.C., for an undisclosed price. Robert T. Schmidt, president and chief executive officer of Iron Road, praised the line and its workers, and said Iron Road hopes to add value to the rail line by increasing revenues from the current level of $36 million a year. Iron Road was formed in 1993 for the purpose of acquiring and operating railroads, and currently owns the Windsor & Hantsport in Nova Scotia and the Iowa Northern Railroad. Details.
Bangor and Aroostook Railroad, Iron Road Railways Inc
"Fieldcrest Cannon Inc., owner of the Bangor and Aroostook Railroad, on Wednesday" (1994). Maine News Index – Portland Press Herald. 13755.
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