Distribution facility scheduled to be complete by year-end 2012
CALGARY, June 14, 2011 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI)
announced today that construction of its new Calgary Logistics Park, an
investment of approximately C$200 million, will start this summer with
target completion by year-end 2012. The project was first announced in
Claude Mongeau, president and chief executive officer, said: "CN is
eager to break ground for the new logistics park, which will provide
seamless transportation solutions to rail customers moving products and
commodities into and out of Calgary, one of the fastest growing cities
in North America and a key logistics hub for consumer and industrial
goods markets in southern Alberta."
Click on http://www.cn.ca/documents/About-CN/map-cn-calgary-logistics-park-en.pdf for a map showing the location of the Calgary Logistics Park.
The 680-acre logistics park in Conrich, Alta., located in Rocky View
County northeast of Calgary, will feature:
A state-of-the-art intermodal terminal for containerized goods moving
between rail and truck, with ample room for customers to build on-site
distribution centres that will eliminate costly handling and drayage
cost to move product to other facilities;
More than two million square feet of warehousing capacity, including a
multi-commodity rail-to-truck transload and warehouse facility, and
Dimensional shipment and heavy container handling capacity.
CN also plans to have an automotive compound for regional vehicle
distribution ready during 2013, and to add a liquid and dry-bulk
transload and distribution facility to the logistics park at a later
CN expects to complete construction of the logistics park by the end of
2012, when it will transfer intermodal activities and Calgary personnel
to the new facility. Operations will start in early 2013.
The new facility, with ready access to Stoney Trail and other major
roadways including the Trans Canada Highway, is situated on Twp Road
250/McKnight Boulevard and is just 10 kilometres from Calgary
CN provides competitive rail transit times to and from Calgary from
eastern and Western Canada, including the ports of Vancouver and Prince
Rupert, B.C., and direct access to markets in the United States.
"We are thrilled with the news of this new facility and with the
collaborative partnership we have formed with CN," said Rolly Ashdown,
Rocky View County Reeve. "The Logistics Park is a great addition to
Rocky View County and the region, helping to support our goal of a
healthy and diversified economy. CN's investment in our community
demonstrates the region's capacity to attract business investment due
to our wide range of rural and urban amenities."
Mongeau said: "The Calgary Logistics Park is part of CN's plan to build
similar multi-modal facilities across our network at key distribution
nodes to handle a variety of goods and commodities. Our goal is to
reduce logistics costs for our customers through highly efficient
materials handling, transportation and distribution processes. With
this approach, CN can help its customers grow, enhance the economic
development of the communities we serve, and position the railway CN
for greater traffic growth."
Certain information included in this news release are "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.
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.
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