30 September 2008
DM&E Sale Won't Mean Layoffs, Exec Says
Sioux Falls South Dakota USA - Dakota, Minnesota &
Eastern Railroad President Kevin Schieffer says today's Surface Transportation Board approval of the DM&E's sale to the Canadian
Pacific Railway Corporation clears the way for the CP to become involved in day-to-day operations.
Schieffer says he doesn't expect the merger will result in any layoffs of the 1,000-plus employees of DM&E and its
subsidiary, the Iowa, Chicago & Eastern Railroad Corporation.
There's a 30-day appeal period, but Schieffer says he doesn't think that will change anything.
Last year, the parties finalized the sale, worth nearly one and a half billion dollars. It was subject to the STB decision - which was
announced today.
The CP isn't saying yet whether it will continue the DM&E's plans to build a new line into Wyoming coal fields and ship coal
east.
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