CN reaches voluntary mitigation agreement with the Village of Hawthorn Woods, Ill.
15 September 2009 - 7:00AM
PR Newswire (US)
CN now has agreements with 18 communities along the EJ&E
CHICAGO, IL, Sept. 14 /PRNewswire-FirstCall/ -- CN (TSX:
CNR)(NYSE:CNI) announced today a voluntary mitigation agreement
(VMA) with the Village of Hawthorn Woods, Ill., located
approximately 40 miles northwest of downtown Chicago, that
addresses the municipality's environmental issues with CN's
acquisition of the principal lines of the former Elgin, Joliet and
Eastern Railway Company (EJ E). CN completed the acquisition on
Jan. 31, 2009, and is running trains over the line. CN will provide
funding for a number of initiatives, including the maintenance of
an existing quiet zone, noise mitigation, emergency response
training, pedestrian crossing protection and traffic signals. CN
now has VMAs with 18 municipalities, more than half of the 33
villages and municipalities along the EJ E in Illinois and Indiana.
Jim Vena, CN senior vice-president, Southern Region, said: "CN is
pleased to have reached this agreement with Hawthorn Woods, which
reflects CN's ongoing commitment to mitigate the impact of its EJ E
acquisition on communities along the line. We will continue to work
closely with all communities as we move forward with the
integration of the EJ E into CN's rail network and complete planned
infrastructure improvements." Hawthorn Woods Mayor Joseph Mancino
said: "The Hawthorn Woods Village Board carefully weighed the
merits of the agreement negotiated by our representatives and CN
and concluded it is in the best interests of the municipality to
work on mitigation efforts immediately. The agreement will address
the community impact of CN's acquisition of the EJ E, thus
safeguarding the quality of life in the village. In the months and
years ahead, we will maintain a close dialogue with CN as it
proceeds to integrate the railroad into its operations." CN expects
that full integration of the CN and EJ E networks will be
accomplished within three years, and it will communicate changes in
a timely manner to the communities affected by the acquisition.
More information
(http://www.cn.ca/en/company-proposed-aquisition-eje-rail-lines.htm)
on the acquisition, including a map of the areas served by the EJ E
and CN, is available on CN's website, http://www.cn.ca/.
Forward-Looking Statements This news release contains
forward-looking statements. CN cautions that, by their nature,
forward-looking statements involve risk, uncertainties and
assumptions. Implicit in these statements, particularly in respect
of long-term growth opportunities, is the Company's assumption that
such growth opportunities are less affected by the current
situation in the North American and global economies. The Company
cautions that its assumptions may not materialize and that the
current economic conditions render such assumptions, although
reasonable at the time they were made, subject to greater
uncertainty. The Company cautions that its results could differ
materially from those expressed or implied in such forward-looking
statements. Important factors that could cause such differences
include, but are not limited to, the effects of adverse general
economic and business conditions, including the current deep
recession in the North American economy and the global economic
contraction in 2009, 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 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 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 - Canadian National Railway
Company and its operating railway subsidiaries - spans Canada and
mid-America, from the Atlantic and Pacific oceans to the Gulf of
Mexico, serving the ports of Vancouver, Prince Rupert, B.C.,
Montreal, Halifax, New Orleans, and Mobile, Ala., and the key
metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth,
Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul,
Memphis, and Jackson, Miss., with connections to all points in
North America. For more information on CN, visit the company's
website at http://www.cn.ca/. DATASOURCE: CN CONTACT: Media:
Patrick Waldron, Manager, Public Affairs, (708) 332-4377;
Investors: Robert Noorigian, Vice-President, Investor Relations,
(514) 399-0052
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