SFG is a non-profit company owned by the following four regional county municipalities (MRCs) which the rail line serves:[1] In May 2015, the Gaspesie railway infrastructure was purchased by the Government of Quebec.

Ciment McInnis, located in Port Daniel, is now also a regular customer although shipments have to be trucked to New Richmond and transloaded into railcars due to pending track and infrastructure repair.

New Carlisle remains the division point between the two subdivisions and historically housed the majority of the crew base for the entire line.

The eastern terminus at Gaspé also contained a yard, small engine and car shop, a wye, bunkhouse and a large station.

Pulp and paper mills constructed at New Richmond and Chandler provided the bulk of the traffic for the line with numerous other smaller businesses receiving rail service along the entire route.

Due to declining traffic, as well as CN's divestment in rural branchlines following privatization in 1996, the entire line was sold to the Quebec Railway Corporation (reporting mark; QRC) on 1 December 1996.

The company continued to operate the smelter at a loss until 2002, hauling in ore concentrate by rail to Sandy Beach and exporting refined copper ingots.

In 2002 the Gaspésia Paper Mill in Chandler closed, effectively ending any regular freight service east of New Richmond.

In 2006, the Smurfit-Stone boxboard plant in New Richmond shut down, putting an end to any regular freight service east of Nouvelle.

Today, regular freight service on the line serves the Temrex sawmill in Nouvelle-Ouest and has been extended again to New Richmond as Ciment Mcinnis is now transloading cement from there.

In winter 2012 the rail line was closed after inspections revealed that several bridges required additional work and SCFG and the municipalities requested an additional $95 million over five years from the provincial and federal governments to complete the upgrades necessary to maintain track speed and freight car loading weight.

[4][5][6] On May 14, 2012 SCFG reopened the Cascapedia Subdivision of the Gaspé line, which runs from Matapédia to New Carlisle, after 5 months of work.

As of April 2018, the Chandler Subdivision, which composes the eastern half of the line from New Carlisle to Gaspé, was still closed for repairs as well.

Due to further issues on the Chandler Subdivision, including a washout just east of the tunnel at Port Daniel, as well as structural flaws in the Haldimand Bridge near Douglastown, VIA again returned to a bus service on 13 August 2013.

For the short term, the section of the Cascapedia Subdivision between Matapédia and New Richmond is maintained and upgraded to ensure regular freight service.