2024-2025 CN Grain Plan Builds on Strong Performance
31 July 2024 - 10:41PM
CN (TSX: CNR) (NYSE: CNI) today published its 2024-2025 Grain Plan,
which builds on the Company’s successful operational improvements
and strategic capital investments from the previous grain season.
“We are confident that we have the right
approach and resources in place to move this year’s Canadian grain
crop efficiently. We continue to lean into our scheduled
railroading model and making sure that our ongoing capital
investments position us for success again this year. Working with
supply chain stakeholders and governments, we are taking steps to
address several regulatory issues impacting the sector, to remove
obstacles so we can focus our attention on continuing to deliver
even better service to our customers.”
- Tracy Robinson,
President and Chief Executive Officer, CN
The CN Grain Plan highlights several new actions
and initiatives for 2024-25. These include:
- the delivery of 750 new
high-efficiency grain hopper cars this crop year,
- a continued focus on scheduled
railroading which has produced demonstrated improvement since
implementation in 2022-23,
- deployment of new firefighting
equipment to help protect the supply chain, and
- the use of new technologies to
improve safety, such as testing new mobile fire detection equipment
and the continued use of CN’s autonomous track inspection
program.
CN is focused on developing and preparing our
people for the upcoming grain season. A major priority for this
year, is ongoing employee engagement, recruiting and training as we
continue to manage a challenging labour market and the impacts of
the federal regulatory environment that has created difficulties in
maintaining crew availability.
CN’s annual Grain Plan is prepared through
extensive consultation with, and input from, key stakeholders,
including the CN Agricultural Advisory Council – a group of western
Canadian farmers and industry leaders. The plan assesses and
describes in detail the Company’s ability to move anticipated
levels of grain during the upcoming crop year. It also outlines
specific steps CN is taking to ensure it has the capacity to move
grain safely and efficiently on behalf of farmers, customers, and
supply chain partners.
CN Forward-Looking Statements
Certain 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. 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.
About CNCN powers the economy
by safely transporting more than 300 million tons of natural
resources, manufactured products, and finished goods throughout
North America every year for its customers. With its nearly
20,000-mile rail network and related transportation services, CN
connects Canada’s Eastern and Western coasts with the U.S. Midwest
and the Gulf of Mexico, contributing to sustainable trade and the
prosperity of the communities in which it operates since 1919.
Contacts: |
Media |
Investment
Community |
Jonathan Abecassis |
Stacy Alderson |
Director, Public Affairs and |
Assistant Vice-President |
Media Relations |
Investor Relations |
(438) 455-3692media@cn.ca |
(514)
399-0052investor.relations@cn.ca |
Canadian National Railway (NYSE:CNI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Canadian National Railway (NYSE:CNI)
Historical Stock Chart
From Aug 2023 to Aug 2024