MONTREAL, Feb. 14 /PRNewswire/ - CN (TSX: CNR)(NYSE: CNI)
announced today that members of the Canadian Auto Workers union
have ratified four-year collective agreements with the company and
CNTL (a subsidiary of CN).
The agreements, retroactive to Jan. 1,
2011, provide wage and benefit increases to CAW members. In
addition, the settlements contain progressive provisions to help CN
retain and attract skilled employees critical to its workforce in
the years ahead.
The CAW represents approximately 3,400 workers in three distinct
bargaining units at CN - mechanical, clerical/intermodal and
excavator operators; and one bargaining unit covering approximately
575 owner-operator truck drivers at CNTL. CN and CNTL reached
tentative agreements with the union on Jan.
24, 2011. The new agreements will expire on Dec. 31, 2014.
Forward-Looking Statements
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 of 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. To the extent that CN has
provided guidance that are non-GAAP financial measures, the Company
may not be able to provide a reconciliation to the GAAP measures,
due to unknown variables and uncertainty related to future results.
Key assumptions used in determining forward-looking information are
set forth below.
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.
SOURCE CN
Copyright . 14 PR Newswire