MONTREAL, March 23, 2017 /CNW/ - CN (TSX: CNR) (NYSE: CNI) and TFI International, Inc. (formerly TransForce Inc.) (TSX: TFII; OTCQX: TFIFF) today announced a renewed collaboration to grow domestic intermodal business in markets across Canada.
The renewed long-term partnership aligns Canada's largest railroad, with its transcontinental rail network that reaches the Pacific, Atlantic and Gulf coasts, and Canada's largest trucking company and logistics leader, with a range of services, including truckload, less-than-truckload and package and courier.
"Over the last five years, TFI International has grown its operating divisions' presence in the domestic intermodal market and its companies have a combined 100 years of collaboration with CN," said JJ Ruest, CN executive vice-president and chief marketing officer. "We believe our expanding partnership will help both our organizations provide more consistent, reliable service for our shared and growing customer base."
Said Alain Bédard, TFI International Chairman, President and Chief Executive Officer, "We are very pleased to have this productive partnership in place with a superior supply chain partner which will ensure best-in-class service for our valued customers. This agreement is in line with TFI's stated objective to grow its intermodal presence in Canada."
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 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 on CN, visit the company's website at www.cn.ca.
ABOUT TFI INTERNATIONAL
TFI International Inc. is a North American leader in the transportation and logistics industry, operating across the United States, Canada and Mexico through its subsidiaries. TFI International creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned operating subsidiaries. Under the TFI International umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International companies service the following segments:
- Package and Courier;
Certain statements included in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN and TFI caution that their respective assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as "believes," "expects," anticipates," "assumes," "outlook," "plans," "targets," or other similar words.
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 CN or TFI to be materially different from the outlook or any future results or performance implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
Important risk factors that could affect the forward-looking statements, for CN, 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; security threats; reliance on technology; trade restrictions; transportation of hazardous materials; various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes; climate change; 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 (MD&A) in CN's annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN's website, for a description of major risk factors with respect to CN.
Important factors that could cause TFI's actual financial performance to differ materially from that expressed in any forward-looking statement include, but are not limited to: highly competitive market conditions, TFI's ability to recruit, train and retain qualified drivers, fuel price variations and the Company's ability to recover these costs from its customers, foreign currency fluctuations, the impact of environmental standards and regulations, changes in governmental regulations applicable to TFI's operations, adverse weather conditions, accidents, the market for used equipment, changes in interest rates, the cost of liability insurance coverage, downturns in general economic conditions affecting TFI and its customers, and credit market liquidity.
Forward-looking statements reflect information as of the date on which they are made. CN and TFI assume no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN or TFI does update any forward-looking statement, no inference should be made that CN or TFI will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
For further information: CN Contacts: Media: Patrick Waldron, Senior Manager, Media Relations, (514) 339-8803; Investment Community: Paul Butcher, Vice-President, Investor Relations, (514) 399-0052; TFI International Contacts: Investment Community: Alain Bédard, Chairman, President and CEO, TFI International Inc., (647) 729-4079, [email protected]; Media: Rick Leckner, MaisonBrison, (514) 731-0000, [email protected]