MONTREAL, Jan. 27, 2012 - CN (TSX: CNR) (NYSE: CNI) announced today that members of the Teamsters Canada Rail Conference (TCRC) have ratified a new collective agreement covering approximately 1,800 locomotive engineers in Canada.
The three-year contract, retroactive to Jan. 1, 2012, provides wage increases along with standard benefit improvements to the TCRC-represented locomotive engineers.
Keith Creel, CN executive vice-president and chief operating officer, said: "CN is pleased with the ratification of the new labour contract by TCRC members and the fact that we reached a tentative deal in December 2011 before the existing agreement expired. The success of the parties in this round of bargaining bodes well for the future of our relationship and ability to address issues of mutual interest in a constructive way that benefits CN's customers and all of its other stakeholders."
Forward-Looking Statements
Certain information included in this news release
constitutes "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform
Act of 1995 and under Canadian securities laws. CN cautions
that, by their nature, these 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. Such forward-looking statements are
not guarantees of future performance and involve known and
unknown risks, uncertainties and other factors which may
cause the actual results or performance of the Company or
the rail industry to be materially different from the
outlook or any future results or performance implied by
such statements.
Important risk factors that could affect the
forward-looking statements include, but are not limited to,
the effects of general economic and business conditions,
industry competition, inflation, currency and interest rate
fluctuations, changes in fuel prices, legislative and/or
regulatory developments, compliance with environmental laws
and regulations, actions by regulators, various events
which could disrupt operations, including natural events
such as severe weather, droughts, floods and earthquakes,
labor negotiations and disruptions, environmental claims,
uncertainties of investigations, proceedings or other types
of claims and litigation, risks and liabilities arising
from derailments, and other risks detailed from time to
time in reports filed by CN with securities regulators in
Canada and the United States. Reference should 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, available on CN's website, for a summary of
major risks.
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 Canadian 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 maters, or any other forward-looking statement.
About CNCN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America.
Mark Hallman
Director
Communications and Public Affairs
Phone: 905-669-3384
Robert Noorigian
Vice-president
Investor Relations
Phone: 514-399-0052
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