MONTREAL, June 1, 2015 /PRNewswire/ - CN (TSX: CNR)
(NYSE: CNI) announced today a C$20-million investment in the expansion of its
cold supply chain capacity to help producers and distributors of
chilled or frozen foods grow their businesses in North American and
overseas markets.
JJ Ruest, executive vice-president and chief marketing officer,
said: "CN was the first railway to introduce highway-to-rail
conversion of reefer service in transborder markets. Our
high-quality cold supply chain service has been embraced by the
marketplace. We are now adding capacity to grow and help
Canada's food processing industry
gain and maintain access to new domestic and international
markets."
To accommodate growth, CN is acquiring 200 more domestic,
53-foot temperature-controlled containers, which will add to the
current fleet of containers circulating inside North America.
CN is also acquiring 32 electrical generators to move 40-foot
international marine reefers to and from CN-served ports on CN
intermodal trains. The power packs provide economies of scale by
connecting up to 17 international marine reefers at a time.
CN, in collaboration with other railroads, offers cold supply
chain rail services between Canada-United
States-Mexico, as well as
between Canada and overseas
markets.
Barry Sutton, vice-president,
international sales, for Maple Leaf Foods, said: "Food safety is
always a top priority for us. We follow world-leading food safety
practices to ensure our consumers can enjoy our products with
confidence. CN shares our food safety vision. Through
collaboration, CN has created a robust supply chain backed by high
food safety standards. CN's transportation leadership and expertise
give us peace of mind knowing that our products will make it to our
customers nationally and internationally, safely and on time."
CN has harnessed innovative technologies to ensure that food
security and integrity is maintained. Robust remote monitoring of
interior container temperatures, a dedicated reefer desk team and
superior exception management services are key elements of its
operational and service excellence for the cold supply chain.
Allan Walker, director,
Canada and export customer service
and logistics for McCain Foods (Canada), said: "McCain Foods is pleased with
the CN announcement. Adding more capacity addresses a critical
supply chain need and helps meet our goals in providing quality
products to our customers in an efficient and environmentally
friendly manner."
Ruest said: "CN's cold supply chain service offers the food
industry a quality and cost-effective alternative to highway trucks
and gives producers pursuing overseas opportunity a great tool to
expand market share. CN is growing with its customers, aiming to
help them compete more effectively in their own markets."
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 and
assumptions 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 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