Decision binding on company and union, achieving contractual
certainty between the parties
MONTREAL,
June 20, 2014 /CNW Telbec/ - CN (TSX:
CNR) (NYSE: CNI) announced today that it has received -- and will
begin to implement immediately -- Arbitrator Michel Picher's decision setting the terms and
conditions of a new three-year collective agreement between CN and
the Teamsters Canada Rail Conference - Conductors, Trainpersons and
Yardpersons (TCRC-CTY). The arbitration ruling is binding on both
parties and concludes the voluntary mediation/arbitration process
that the company and union agreed to on March 22, 2014.
The TCRC-CTY represents approximately 3,000 CN
train conductors, trainpersons, yardpersons and traffic
coordinators on CN's network in Canada.
Work rule changes are effective immediately. The
decision provides for general wages increases as follows: three per
cent retroactive to July 23, 2013;
three per cent effective July 23,
2014, and three per cent effective July 23, 2015, which are in line with general
wage and benefits provisions in recent settlements between CN and
its other unions. Benefit improvements will take effect on
July 1, 2014.
Jim Vena, CN executive vice-president and chief
operating officer, said: "CN is pleased that the arbitration
process is finished and that the parties have contractual certainty
-- this is good news for our customers and the Canadian
economy.
"The award paves the way for the introduction of
scheduling for conductors in Western
Canada, an approach we believe will help to address manpower
availability and promote greater work-life balance."
CN (TSX: CNR) (NYSE: CNI) 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