STOCK TITAN

Norfolk Southern statement on the NTSB's preliminary East Palestine report

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

On February 23, 2023, Norfolk Southern Corporation (NYSE: NSC) released a statement regarding the NTSB's preliminary report on the East Palestine train derailment. The report indicated that the rail crew operated within company rules and below the track speed limit while the wayside heat detectors functioned properly. Norfolk Southern is inspecting nearly 1,000 wayside detectors for safety and has committed to enhancing practices and technologies to prevent future incidents. The company is providing support to the East Palestine community, including site cleanup and financial aid for affected families and businesses.

Positive
  • The NTSB preliminary report confirmed the rail crew followed all operational rules.
  • Wayside heat detectors were functioning properly during the incident.
  • Norfolk Southern is conducting thorough inspections of all nearly 1,000 wayside detectors to ensure safety.
  • The company is actively supporting the East Palestine community through cleanup and financial assistance.
Negative
  • None.

ATLANTA, Feb. 23, 2023 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) issued the following statement on Thursday in response to the National Transportation Safety Board's (NTSB) preliminary report on the East Palestine, Ohio train derailment.

Statement from Norfolk Southern

Since the incident, Norfolk Southern has focused on supporting the Village of East Palestine and the NTSB throughout their investigation. NTSB investigators have worked tirelessly, and we appreciate everything they are doing. We share the NTSB Chair's frustration about the significant misinformation about the incident.

Norfolk Southern will continue to support the NTSB's investigation. Their preliminary report indicates:

  • The rail crew operated the train within the company's rules.
  • The rail crew operated the train below the track speed limit.
  • The wayside heat detectors were operating as designed.
  • Once the rail crew was alerted by the wayside detector, they immediately began to stop the train.

The company's wayside detectors on its network trigger an alarm at a temperature threshold that is among the lowest in the rail industry.

At Norfolk Southern, our highest priority is the safety of our people and the communities and customers we serve. Under the supervision of the Federal Railroad Administration, the company has inspected all wayside detectors in the area of the incident and found they were operating as designed. Out of an abundance of caution, Norfolk Southern is now inspecting all of the nearly 1,000 wayside heat detectors on its system – on top of the regular inspection of the detectors every 30 days.

We and the rail industry need to learn as much as we can from this event. Norfolk Southern will develop practices and invest in technologies that could help prevent an incident like this in the future. We will also work with the owners of the rail cars on the integrity and safety of the equipment we use.

The speculation and misinformation about this incident have been extremely upsetting to the citizens of East Palestine. Norfolk Southern remains committed to the people of the community and will continue its work to help them thrive. Already, we have made significant progress in cleaning the site, engaging the community, and providing financial support for families and small businesses, all to help East Palestine.

About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods, and is the largest rail shipper of auto products and metals in North America. Norfolk Southern also has the most extensive intermodal network in the eastern U.S., serving a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as the Gulf of Mexico and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-statement-on-the-ntsbs-preliminary-east-palestine-report-301755009.html

SOURCE Norfolk Southern Corporation

FAQ

What did the NTSB report say about Norfolk Southern's operations during the East Palestine incident?

The NTSB report indicated that Norfolk Southern's rail crew operated the train within the company's rules and below the track speed limit.

How many wayside heat detectors is Norfolk Southern inspecting after the East Palestine derailment?

Norfolk Southern is inspecting nearly 1,000 wayside heat detectors on its system following the incident.

What actions is Norfolk Southern taking to support the East Palestine community?

Norfolk Southern is engaging in site cleanup and providing financial support to families and small businesses in East Palestine.

What is Norfolk Southern's commitment following the East Palestine train derailment?

Norfolk Southern is committed to enhancing safety practices and investing in technologies to prevent future incidents.

Norfolk Southern Corp.

NYSE:NSC

NSC Rankings

NSC Latest News

NSC Stock Data

53.83B
226.07M
0.07%
77.6%
0.98%
Railroads
Railroads, Line-haul Operating
Link
United States of America
ATLANTA