CN Supportive of the Amendment to the Ministerial Order on Train Speed
MONTREAL, Feb. 16, 2020 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) is supportive of the decision by Canada’s Transport Minister to amend the Ministerial Order issued on February 7, 2020. That Order restricted the speed of trains carrying dangerous goods on all parts of the railway networks in Canada, the consequence of which was a reduction in at least a third of CN’s overall network capacity for all trains, even those not carrying dangerous goods.
By revising the order to take into account substantial investments made to equip mainline tracks with automated signaling technology, which represents the vast majority of CN’s network, the Company will be able to recover more efficiently from the illegal blockades.“Safety is a core value at CN, and we are supportive of the Minister of Transportation’s decision,” said JJ Ruest, president and chief executive officer at CN. “We are committed to working over the next several weeks with Transport Canada on recommendations to increase overall safety by reducing derailments. The safety of our employees and the communities in which we operate is not something on which we ever compromise. This amended Ministerial Order focusses on the safety of Canadians, particularly those living close to rail lines and that is of paramount importance to CN.”“Today’s ruling will allow us to use our capacity to recover in the Western region as we resume the delivery of our customers’ goods that are important to the everyday lives of Canadians and the Canadian economy. We will implement a similar recovery plan across our Eastern region when all the blockades are fully ended, including the one in Belleville Ontario which is into its 10th day. We wish to thank our customers, employees, supply chain partners and all who continue to support CN during this very unfortunate time. We are working very hard to recover our North American network upon the lifting of any and all illegal blockades,” concluded Ruest.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 of approximately 20,000 route-miles 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 about CN, visit the company’s website at www.cn.ca.