TORONTO, May 17 /PRNewswire/ - CN (TSX: CNR) (NYSE: CNI)
announced today a series of capacity improvements to accommodate
growing container volumes at its Brampton Intermodal Terminal (BIT)
and to ensure a high level of service for intermodal customers
across its system.
BIT, located in the prime logistics area of Greater Toronto, is Canada's largest rail intermodal terminal and
a key component in CN's distribution network -- almost 60 per cent
of the railway's system-wide intermodal business touches the
terminal. CN's rail intermodal traffic consists primarily of
containerized cargoes moving in cooperation with other
transportation modes.
Claude Mongeau, president and
chief executive officer of CN, said: "Intermodal is one of CN's
fastest-growing business segments. We are investing in new track,
equipment and other infrastructure improvements at BIT to take our
intermodal service offering to the next level in efficiently
distributing growing overseas container traffic reaching our
network over Canadian ports as well as rising domestic intermodal
shipments across Canada. These
investments will increase supply chain efficiencies for our
customers and help them grow their businesses.
"CN Intermodal is an increasingly attractive transportation
solution as fuel prices rise and freight customers put greater
emphasis on sustainable options. We offer the marketplace
competitive rail transit times and reliable drayage services in an
environmentally friendly package."
Charles Campbell, managing
director of NYK Line (Canada) Inc., part of the international marine
transportation company and the NYK Group, said: "As is evident in
many areas of CN's intermodal operations, we have seen major
improvements at Brampton Intermodal Terminal. The shortening of
turn times at BIT reflects this effort. In general, the service
level across the CN network has improved as CN continues to listen
and react to customer input."
CN's BIT improvements include:
- The installation of new track and extension of existing track to
increase rail capacity by close to 15 per cent;
- Creation of approximately 25 per cent more ground space for
international containers by staging CN containers offsite;
- Purchasing five new cranes in 2011, after the acquisition of five new
ones last fall, and,
- Increasing the labour force by about 10 per cent in 2011.
These customer-focused initiatives follow construction of new
entry and exit lanes for truckers last December that increased
BIT's gate throughput by 33 per cent.
BIT's 2011 intermodal volumes through the end of April increased
by 12 per cent over figures for the comparable period of 2010.
CN's total 2010 intermodal volumes increased by 17 per cent over
2009 to 1,455,000 units, while intermodal revenues last year rose
by 18 per cent to C$1,576
million.
Mongeau said: "CN's capacity improvements at BIT reflect our
strategic agenda of operational and service excellence. By
anticipating our customers' transportation needs, our innovation
and supply chain collaboration focus can help them expand
profitably and compete more effectively."
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.
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