MONTREAL,
Feb. 5, 2014 /CNW Telbec/ - CN (TSX:
CNR) (NYSE: CNI) announced today that it has reached a new
tentative collective agreement with the Teamsters Canada Rail
Conference - Conductors, Trainpersons and Yardpersons
(TCRC-CTY).
The parties' negotiation of a new tentative
agreement averts a threatened strike by the union at 0001 hours
Eastern Standard Time Feb. 8, 2014.
The TCRC-CTY represents approximately 3,000 CN train conductors,
trainpersons, yardpersons and traffic coordinators on CN's network
in Canada.
Details of the three-year labour contract are
being withheld pending ratification.
Jim Vena, CN executive vice-president and chief
operating officer, said: "We commend the leadership of the TCRC-CTY
for reaching consensus with the company and averting a possible
strike. This will ensure continued service to our customers in a
very challenging environment where extreme winter conditions have
hampered CN operations and affected service levels.
"CN has offered to work closely with the union
leadership to explain the terms of the agreement to union members
over the next 45 days to help ensure a successful ratification of
the agreement."
CN is a true backbone of the economy,
transporting approximately 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.
Forward-Looking Statements
Certain information included in this news
release is "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 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 matters, or any
other forward-looking statement.
SOURCE CN