EDMONTON — Claude Mongeau, president and chief executive officer of CN, said the company will have invested almost C$400 million to buy and rehabilitate four short-line railways serving resource-rich regions of northern Alberta by year-end 2011.
NEW ORLEANS — CN announced a definitive agreement to sell substantially all of the assets of IC RailMarine Terminal Company (ICRMT) to Raven Energy an affiliate of Foresight Energy LLC and the Cline Group for $73 million.
CALGARY — CN said that construction of its new Calgary Logistics Park, an investment of approximately C$200 million, will start this summer with target completion by year-end 2012. The project was first announced in February 2010.
MONTREAL — CN was awarded the TRANSCAER (Transportation Community Awareness and Emergency Response) National Achievement Award at a ceremony in St. Louis.
TORONTO — CN announced a series of capacity improvements to accommodate growing container volumes at its Brampton Intermodal Terminal (BIT) and to ensure a high level of service for intermodal customers across its system.
EDMONTON — CN announced major investments to double track key segments of its high-volume main line east of Edmonton, add capacity to its rail line to the oil sands region of northern Alberta, and improve velocity at its Walker Yard freight car classification facility in Edmonton.
MONTREAL — CN has refinanced its revolving credit facility with a new four-year $800-million facility co-led by The Bank of Nova Scotia, J.P. Morgan Securities LLC, and BMO Capital Markets.
SASKATOON — CN said its Scheduled Potash Service has increased supply chain efficiencies for producers in Western Canada and provided them quicker access to markets.
HOMEWOOD, Ill. — With trespassing incidents and fatalities on the rise in the United States, CN is marking Rail Safety Week from May 2 to May 8, 2011, with a public awareness campaign that stresses the deadly risks of trespassing on railroad tracks and property.