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Rail News: M&A
2/12/2008
Rail News: M&A
Catalyst Paper to acquire Apache Railway as part of paper mill deal
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The Apache Railway Co. is changing hands again. Catalyst Paper Corp. recently reached an agreement to acquire AbitibiBowater's Snowflake, Ariz., recycled newsprint mill, the 38-mile short line and other assets for $161 million in cash. The transaction is expected to close in the second quarter.
Apache Railway operates a line between the Snowflake mill and a BNSF Railway Co. interchange in Holbrook. AbitibiBowater (then Abitibi Consolidated) acquired the short line from Stone Container Corp. in 1999. Incorporated in 1917, Apache Railway provided passenger-rail service until the 1950s.
Apache Railway operates a line between the Snowflake mill and a BNSF Railway Co. interchange in Holbrook. AbitibiBowater (then Abitibi Consolidated) acquired the short line from Stone Container Corp. in 1999. Incorporated in 1917, Apache Railway provided passenger-rail service until the 1950s.
