CN Supportive of the Amendment to the Ministerial Order on Train Speed
February 16 2020 - 8:40PM
CN (TSX: CNR) (NYSE: CNI) is supportive of the decision by Canada’s
Transport Minister to amend the Ministerial Order issued on
February 7, 2020. That Order restricted the speed of trains
carrying dangerous goods on all parts of the railway networks in
Canada, the consequence of which was a reduction in at least a
third of CN’s overall network capacity for all trains, even those
not carrying dangerous goods.
By revising the order to take into account
substantial investments made to equip mainline tracks with
automated signaling technology, which represents the vast majority
of CN's network, the Company will be able to recover more
efficiently from the illegal blockades.
“Safety is a core value at CN, and we are
supportive of the Minister of Transportation’s decision,” said JJ
Ruest, president and chief executive officer at CN. “We are
committed to working over the next several weeks with Transport
Canada on recommendations to increase overall safety by reducing
derailments. The safety of our employees and the communities in
which we operate is not something on which we ever compromise. This
amended Ministerial Order focusses on the safety of Canadians,
particularly those living close to rail lines and that is of
paramount importance to CN.”
“Today's ruling will allow us to use our
capacity to recover in the Western region as we resume the delivery
of our customers’ goods that are important to the everyday lives of
Canadians and the Canadian economy. We will implement a similar
recovery plan across our Eastern region when all the blockades are
fully ended, including the one in Belleville Ontario which is into
its 10th day. We wish to thank our customers, employees, supply
chain partners and all who continue to support CN during this very
unfortunate time. We are working very hard to recover our North
American network upon the lifting of any and all illegal
blockades,” concluded Ruest.
CN is a true backbone of the economy
transporting more than C$250 billion worth of goods annually for a
wide range of business sectors, ranging from resource products to
manufactured products to consumer goods, across a rail network of
approximately 20,000 route-miles spanning Canada and mid-America.
CN – Canadian National Railway Company, along with its operating
railway subsidiaries – serves the cities and ports of Vancouver,
Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile,
Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg,
Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis.,
and Jackson, Miss., with connections to all points in North
America. For more information about CN, visit the company’s website
at www.cn.ca.
Contacts: |
|
Media |
Investment Community |
Alexandre Boulé |
Paul Butcher |
Senior Advisor |
Vice-President |
Media Relations |
Investor Relations |
(514) 399-4735 |
(514) 399-0052 |
Media@cn.ca |
|
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