CN to build Joliet, Ill., intermodal ramp to give import/export customers better access to Chicagoland distribution centers
CHICAGO, Jan. 17, 2013 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI) announced today a plan to construct an intermodal ramp at its freight yard in Joliet, Ill., to offer import/export customers key access to numerous Chicagoland distribution centers.
Jean-Jacques Ruest, CN executive vice-president and chief marketing officer, said: "The Joliet-Will County area of greater Chicago has one of the highest concentrations of distribution centers in the United States. With a new intermodal ramp for container traffic at our Joliet Yard, CN will offer importers and exporters improved access to this vital trade hub with the fastest combined ocean and rail transit times from and to Asia via the ports of Vancouver and Prince Rupert, B.C.
"CN expects to offer daily west coast service starting in June 2013, with transit times of approximately 100 hours between the west coast and Joliet."
The full-service intermodal ramp will efficiently accommodate the transfer of containers between rail and truck. A grain transloading facility will also operate at the site to support export opportunities.
CN is the only railroad directly linking all three coasts to the Greater Chicago area distribution centers, including vessel calls originating in Europe, Asia and South America.
Ruest said: "CN's Joliet intermodal terminal is another example of how we are giving our customers improved supply chain efficiencies and better access to global markets."
CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.
Certain information included in this news release constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of the Company or the rail industry to be materially different from the outlook or any future results or performance implied by such statements. Important factors that could affect the above forward-looking statements include, but are not limited to, the effects of general economic and business conditions, industry competition, inflation, currency and interest rate fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, actions by regulators, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor negotiations and disruptions, environmental claims, uncertainties of investigations, proceedings or other types of claims and litigation, risks and liabilities arising from derailments, and other risks and assumptions detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CN's annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN's website, for a summary of major risks.
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