CN to Modernize 60 Additional Locomotives with Wabtec
26 Juillet 2023 - 5:15PM
CN (TSX: CNR) (NYSE: CNI) and Wabtec Corporation (NYSE: WAB)
announced an order to enhance an additional 60 locomotives in CN’s
existing fleet through Wabtec’s modernization program. The
investment supports CN’s commitment to drive growth in a
sustainable manner and build success for customers, employees and
communities.
“Modernizing these locomotives cost-effectively
improves the reliability of our existing fleet and contributes to
reducing our rail carbon footprint,” said Mark Grubbs,
Vice-President Mechanical at CN. “In addition to reducing the
environmental impact of our own operations, it helps us to reduce
the greenhouse gas emissions of our customers.”
The modernizations will help to improve
locomotive fuel efficiency, where CN remains a leader in the North
American rail industry, consuming approximately 15% less locomotive
fuel per gross ton mile than the industry average. The program
supports CN’s science-based target to reduce its Scope 1 and 2
emissions by 43% per gross ton mile by 2030 from a 2019 base year,
and with CN’s commitment to setting a net-zero 2050 carbon emission
target aligned to a 1.5-degree scenario.
Wabtec’s Services team will modernize CN’s 60
certified pre-owned Dash-9 locomotives to bring the total
modernized fleet to 110 locomotives. The company will transform the
locomotives from DC to AC powered traction and will feature
enhancements such as the FDL Advantage engine upgrade and a suite
of digital solutions including Trip Optimizer, and LOCOTROL
Distributed Power. These upgrades are expected to extend the life
of the locomotives and provide benefits, including targeted fuel
efficiency improvements of up to 18% through a combination of
engine and digital technology enhancements, a more than 40%
increase in reliability, and up to a 55% increase in pulling power.
The total program is expected to enable CN to realize up to
approximately 50,000 metric tons in annual greenhouse gas emission
reductions, the equivalent of removing nearly 10,700 non-electric
passenger cars. Additionally, the modernization order will reuse or
recycle approximately 11,000 metric tons of steel.
“Our modernization solutions allow CN to enhance
its existing fleet by upgrading to Wabtec’s state-of-the-art
technology to enhance the locomotives’ performance to current
standards,” said Alicia Hammersmith, President of Wabtec Freight
Services. “Our modernization program supports the circular economy
and is a key component of Wabtec’s sustainability approach through
processes that reduce waste, extend life, and improve fuel
efficiency, thereby driving emissions reductions and helping
customers save money.”
About WabtecWabtec Corporation
(NYSE: WAB) is focused on creating transportation solutions that
move and improve the world. The company is a leading global
provider of equipment, systems, digital solutions and value-added
services for the freight and transit rail industries, as well as
the mining, marine and industrial markets. Wabtec has been a leader
in the rail industry for over 150 years and has a vision to achieve
a zero-emission rail system in the U.S. and worldwide. Visit
Wabtec’s website at: https://www.wabteccorp.com/
About CNCN is a world-class
transportation leader and trade-enabler. Essential to the economy,
to the customers, and to the communities it serves, CN safely
transports more than 300 million tons of natural resources,
manufactured products, and finished goods throughout North America
every year. CN's network connects Canada’s Eastern and Western
coasts with the U.S. South through a 18,600-mile rail network, CN
and its affiliates have been contributing to community prosperity
and sustainable trade since 1919. CN is committed to programs
supporting social responsibility and environmental stewardship.
CN Forward-looking
StatementsCertain statements by CN included in this news
release constitute “forward-looking statements” within the meaning
of the United States Private Securities Litigation Reform Act of
1995 and under Canadian securities laws, including relating to CN’s
environmental, social and governance (ESG) strategies and targets,
including CN’s climate goals and sustainability commitments. By
their nature, forward-looking statements involve risks,
uncertainties and assumptions. CN 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. Forward-looking statements may be
identified by the use of terminology such as “believes,” “expects,”
“anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other
similar words. Forward-looking statements reflect information as of
the date on which they are made. 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 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.
Contacts: |
|
Media |
Investment Community |
Jonathan Abecassis |
Stacy Alderson |
Senior Manager |
Interim Assistant
Vice-President |
Media Relations |
Investor Relations |
(438) 455-3692 |
(514) 399-0052 |
media@cn.ca |
investor.relations@cn.ca |
|
|
Tim Bader |
|
Director |
|
Media Relations |
|
(682) 319-7925 |
|
Tim.bader@wabtec.com |
|
|
|
Kristine Kubacki, CFA |
|
Vice President |
|
Investor Relations |
|
412-450-2033 |
|
kristine.kubacki@wabtec.com |
|
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4a78bb5c-596c-47e0-815d-7ed9bdd22586
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