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4/24/2009    M&A

CN's Algoma Central Railway acquires Colorado's Ski Train

The Ski Train has taken it’s last run. On March 29, the train that shuttled skiers 56 miles between Denver's Union Station and Winter Park, Colo., ceased operations.

Ski Train owner and operator the Anschutz Co. has sold the service’s equipment to CN subsidiary Algoma Central Railway Inc.

Anschutz had been operating the Ski Train — which served the Colorado region for decades — at a “consistent loss over the past 21 years,” said company spokesman Jim Monaghan in a prepared statement.

"Profitability had never been the controlling issue with the Ski Train," he said. "However, more recently it has faced additional, serious challenges, including escalating costs — particularly liability coverage, operating conflicts with [Union Pacific] freight train traffic, substantial uncertainties posed by the redevelopment of Union Station, as well as long-term impacts resulting from this nation’s economic crises.”