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In early January 1995 the eastern portion of the CAR mainline from Saint John, New Brunswick to Brownville Junction, Maine was sold to industrial conglomerate J.D. Irving Limited (JDI) which created the New Brunswick Southern Railway (NBS) and Eastern Maine Railway as subsidiaries.
In the 20th century, Georgetown's industrial base diversified to include the Island's only shipyard, East Isle Shipyard, now owned by J.D. Irving Limited, and well known for its construction of tugs such as Atlantic Spruce, Atlantic Oak and the Royal Canadian Navy's Glen class tugs.