CHICAGO,
Dec. 13, 2012 /CNW Telbec/ - CN (TSX:
CNR) (NYSE: CNI) announced today it has reached a voluntary
mitigation agreement (VMA) with the Village of Bartlett, Ill., located
approximately 35 miles northwest of downtown Chicago, in connection with CN's Jan. 31, 2009, acquisition of the major portion
of the Elgin, Joliet and Eastern Railway Company
(EJ&E).
CN will provide Bartlett with
funding for noise mitigation and emergency training and will
monitor switching activity in conjunction with another railroad to
minimize extended blockages of West Bartlett Road.
Jim Vena, CN senior vice-president, Southern Region, said: "CN
is pleased to have come to terms with the Village of Bartlett on this mitigation
agreement, which is the 28th VMA signed by CN with
communities on the EJ&E line. Agreements such as these build
ties with the communities through which we operate on the
EJ&E."
CN reached its first VMA in August
2008, and has continued working with communities along the
EJ&E to reach these voluntary agreements to provide
environmental mitigation tailored to each community's needs. To
date, 28 of the 33 communities directly affected by the EJ&E
transaction have signed VMAs with CN.
Integration of the CN and EJ&E networks is well underway.
For more information on the acquisition, including a map of the
areas served by CN, please 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,
including statements as to the expected completion of the
integration of the CN and EJ&E networks. 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 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.
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.
SOURCE CN