BC Washouts: CN Network Productivity Returns to Normal Range, Community Support and Assistance Remains Ongoing
December 21 2021 - 5:00PM
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
$100,000 to the Canadian Red Cross British Columbia floods and
extreme weather appeal.
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 CNCN 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
StatementsCertain 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)
399-0052investor.relations@cn.ca |
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