MONTREAL, Jan. 23, 2012 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI)
announced today it has signed a 10-year agreement, effective July 1,
2012, to transport potash volumes that Canpotex ships to export
CN will haul via its southern British Columbia (B.C.) line a portion of
what Canpotex exports through CN-served Neptune Terminals in North
CN and Canpotex will also continue work on the feasibility of a
potential new potash export gateway terminal in Prince Rupert, B.C.,
which would be served by CN over its northern B.C. line. In both cases,
train design will be highly efficient, utilizing distributed power
locomotives pulling 170-car trains.
Jean-Jacques Ruest, CN executive vice-president and chief marketing
officer, said: "We are very excited to partner with a customer like
Canpotex that has such a world-class distribution system."
Steven Dechka, president and chief executive officer of Canpotex, said:
"Canpotex is focused on growth, efficiency and strategic investments.
We are pleased again to be partnering with CN, a company that shares
the same values and will help us achieve these objectives."
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, St. Louis, 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 risk factors that could affect the 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 maters, or any other forward-looking statement.
For further information:
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