MONTREAL,
Sept. 4, 2012 /PRNewswire/ - CN (TSX:
CNR) (NYSE: CNI) announced today that it is acquiring more than
2,200 new freight cars in 2012, as well as 1,300 new containers, to
support traffic growth and improve customer service.
Jean-Jacques Ruest,
executive vice-president and chief marketing officer, said: "CN is
acquiring new freight cars and containers for a range of markets,
including forest products, metals, minerals, coal, iron ore, steel,
consumer goods, finished vehicles, and grain. These fleet additions
will help us grow in line with our customers' demands and ensure CN
has the right mix of modern, productive assets."
CN's largest rolling stock addition in 2012 is the
acquisition of 600 premium 60-foot, double-door box cars for forest
products, and metals traffic. These higher payload cars help
improve customer loading efficiency.
CN's other main 2012 fleet additions are:
- 1,300 containers for grocery and consumer goods.
- 558 high-capacity modern covered hoppers for grain
exports.
- 317 multi-level cars for finished vehicles deliveries to major
cities.
- 300 gondolas for coal exports.
- 232 new ore cars for pelletized iron ore produced in
Minnesota to supply steel mills in
the United States.
- 200 multi-purpose box cars for the North American freight car
pool.
Ruest said: "CN's rolling stock acquisition
strategy is responding to evolving market conditions and is
intended to ensure reliable, predictable supply chains for our
customers."
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, 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.
Forward-Looking Statements
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 factors that could affect the above
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 matters, or any
other forward-looking statement.
SOURCE CN