CN to Invest $85 Million in Wisconsin Enabling Sustainable Growth, Improving Capacity and Advancing the Company’s Commitment to Safety
CN is investing approximately $85 million in Wisconsin for 2022. This investment will focus on technology, capacity, rolling stock units, and decarbonization initiatives. Key maintenance programs include replacing 10 miles of rail, installing 10,000 new ties, and upgrading 53 road crossings. Over the past five years, CN has invested about $700 million in Wisconsin. The company's operations in the state include approximately 1,150 employees and 1,428 route miles. These initiatives aim to ensure sustainable growth and enhance the safe movement of goods across CN's transcontinental network.
- Investment of $85 million in Wisconsin aimed at enhancing infrastructure and technology.
- Maintenance programs to improve rail safety and efficiency.
- Significant past investments totaling $700 million over the last five years.
- Strong community partnerships with $175,000 contributed in 2021.
- None.
CN is building the premier railway of the 21st century by investing in Wisconsin
HOMEWOOD, Ill., June 28, 2022 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately
“We continue to make significant investments in our network, technology, and capacity. We are building the premier railroad of the 21st century to do even more for our customers, railroaders, shareholders, and the communities in which we operate.”
- Sean Finn, Executive Vice-President, Corporate Services and Chief Legal Officer of CN
“The Railroad has been a foundational partner in our community for generations. CN has continued that tradition in projects to help improve green space, enhance infrastructure and benefiting the quality of life here in Stevens Point. Stevens Point has been a leader in conservation and reducing our carbon footprint on our world. We are proud to have such a strong relationship with CN and the way they can efficiently move products blends perfectly with our sustainable initiatives.”
- Mike Wiza, Mayor of Stevens Point
Maintenance program highlights include:
- Replacing approximately 10 miles of rail;
- Installing approximately 10,000 new railroad ties;
- Rebuilding 53 road crossing surfaces; and
- Maintenance work on bridges, culverts, signal systems, and other track infrastructure
Wisconsin in numbers:
- Capital investments: Approximately US
$700 million in the last five years - Employees: approximately 1,150
- Railroad route miles operated: 1,428
- Community partnerships: US
$175,000 in 2021 - Local spending: US
$242 million in 2021 - Cash taxes paid: US
$18 million in 2021
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. The Company 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 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 18,600-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.
Contacts:
| Media | Investment Community |
| Mathieu Gaudreault | Paul Butcher |
| Senior Advisor | Vice-President |
| Media Relations | Investor Relations |
| 514-249-4735 media@cn.ca | (514) 399-0052 investor.relations@cn.ca |
FAQ
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