CN Announces 2011 Capital Investments to Maintain, Improve Network

MONTREAL — CN said it plans to invest C$1.7 billion in 2011 to maintain a safe and fluid railway network, to grow the business efficiently and to continue to provide customers with a high level of service.

Claude Mongeau, president and chief executive officer, said: “CN is focused on running a safe, sustainable railway and growing our business profitably at low incremental cost. We are pursuing this agenda through infrastructure investments, strengthening ties with our customers, and innovative service improvements. Our service innovations include ‘first-mile/last-mile’ initiatives that respond to customer needs at origin and destination, and supply chain collaboration that emphasizes an end-to-end view of service quality.

“CN’s capital spending program is critical to these safety, growth and service objectives. In the last five years, CN spent almost C$8 billionon capital improvements. Such investments serve to build a quality network that, in turn, supports economic growth across Canada and the United States.”