BC Washouts: CN Network Productivity Returns to Normal Range, Community Support and Assistance Remains Ongoing
MONTREAL, Dec. 21, 2021 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that the productivity and capacity of its network in BC has nearly returned to pre-washout levels as crews continue to work around the clock.
During the three-week period between November 14, 2021 and December 4, 2021, when CN’s network was shut down, the Company experienced 58 outages over a 150-mile stretch. The railroad mobilized over 400 employees and contractors and over 110 pieces of heavy equipment, operating 24 hours a day, seven days a week to get the rail line back into service. 282,000 cubic yards of rock, earth, and backfill materials were moved to rebuild damaged locations, the equivalent of over 25,000 truckloads. Despite significant setbacks, including a recent stoppage near Jasper and cold weather in the Prairies, operating metrics are pointing towards successful recovery efforts approximately two weeks after the network reopened.
The Company also worked closely with emergency management officials to provide assistance to British Columbians impacted by the weather. Working with partners, CN helped evacuate hundreds of stranded residents, brought urgent medical care to areas cut off by floods, and delivered much needed medical equipment to locations isolated by the water. CN also donated
CN was also able to use its exclusive access to the Port of Prince Rupert to move goods. Resources and staffing levels were increased to keep Canadian natural resources moving to markets as well as keeping consumer goods from overseas flowing to communities across North America.
“We could not be prouder of the remarkable work done by our railroaders and suppliers to get goods moving again while also answering the call to help out neighbours in times of need. The strategic capital investments we made in our capacity over the last few years has once again enabled us to be resilient and recover quickly. We know that there remains work ahead of us to get supply chains back in balance. We are committed to getting the job done and we are encouraged by the results to date and the operating metrics which demonstrate that we are achieving success in restoring close to normal productivity.”
- JJ Ruest, President and Chief executive officer of CN
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
Forward-Looking Statements
Certain statements 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 are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, expectations, estimates, projections and assumptions relating to: CN’s fuel efficiency; the Company’s ability to implement certain initiatives, including emissions targets, scenario analyses, risk mitigation strategies, changes to enterprise risk management, future investments in and the availability of carbon emissions-reduction tools and technologies including through CN’s fleet upgrades; the impacts of existing and planned capital investments; North American and global economic growth; applicable laws, rules, regulations and government policies; the availability and cost of labour on the timelines anticipated and with the capabilities required, as well as the availability and cost of services and infrastructure; and capital investments and technology developments by third parties. Reference should also 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 and available on CN’s website, for a description of major risk factors relating to CN.
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.
| Contacts: | |
| Media | Investment Community |
| Jonathan Abecassis | Paul Butcher |
| Senior Manager, Media Relations | Vice-President |
| (438) 455-3692 | Investor Relations |
| media@cn.ca | (514) 399-0052 investor.relations@cn.ca |
