CN withdraws lockout notice for 2300 hours local time
tonight
MONTREAL, Feb. 23, 2015 /PRNewswire/ - CN (TSX: CNR)
(NYSE: CNI) announced today that it has negotiated a tentative
labour agreement with the Unifor union. As a result, CN has
withdrawn its lockout notice to Unifor, which would have come
effective at 2300 hours local time tonight in the absence of a
settlement.
Details of the tentative agreement are being withheld pending
ratification by Unifor members. The union is expected to announce
the results of the ratification vote in the next three weeks.
Claude Mongeau, president and
chief executive officer of CN, said: "We are very pleased that the
company and union were able to find common ground on a tentative
new labour contract. This settlement forecloses the prospect of a
potential labour disruption that would have harmed CN's employees,
its customers and the Canadian economy."
Unifor represents 4,800 CN employees in four bargaining units at
CN – clerical/intermodal; mechanical; CNTL truck owner-operators;
and excavator-operators.
CN is a true backbone of the economy, transporting more than
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.
SOURCE CN