MONTREAL, Sept. 4, 2012 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI)
announced today that it is acquiring more than 2,200 new freight cars
in 2012, as well as 1,300 new containers, to support traffic growth and
improve customer service.
Jean-Jacques Ruest, executive vice-president and chief marketing
officer, said: "CN is acquiring new freight cars and containers for a
range of markets, including forest products, metals, minerals, coal,
iron ore, steel, consumer goods, finished vehicles, and grain. These
fleet additions will help us grow in line with our customers' demands
and ensure CN has the right mix of modern, productive assets."
CN's largest rolling stock addition in 2012 is the acquisition of 600
premium 60-foot, double-door box cars for forest products, and metals
traffic. These higher payload cars help improve customer loading
CN's other main 2012 fleet additions are:
1,300 containers for grocery and consumer goods.
558 high-capacity modern covered hoppers for grain exports.
317 multi-level cars for finished vehicles deliveries to major cities.
300 gondolas for coal exports.
232 new ore cars for pelletized iron ore produced in Minnesota to supply
steel mills in the United States.
200 multi-purpose box cars for the North American freight car pool.
Ruest said: "CN's rolling stock acquisition strategy is responding to
evolving market conditions and is intended to ensure reliable,
predictable supply chains for our customers."
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 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.
CN assumes no obligation to update or revise forward-looking statements
to reflect future events, changes in circumstances, or changes in
beliefs, unless required by applicable Canadian securities laws. In the
event CN does update any forward-looking statement, no inference should
be made that CN will make additional updates with respect to that
statement, related matters, or any other forward-looking statement.
For further information:
Communications and Public Affairs