TORONTO, Sept. 11, 2009 — CN (TSX: CNR) (NYSE:CNI) today celebrated the official opening of its new C$14-million Toronto Automotive Compound at MacMillan yard north of Toronto.
The new facility’s track layout will accommodate the unloading of 60 auto-carrying rail cars at once, compared with 27 unloading spots at the former compound at Mac Yard, and will have room to park up to 4,500 vehicles. A planned phase two expansion of the compound will provide parking for 6,000 cars and/or trucks.
James Foote, executive vice-president, Sales and Marketing for CN, said: “Our Toronto Automotive Compound is a key facility in our vehicle distribution network in Ontario, the largest auto market in Canada. Our new state-of-the-art facility will help CN increase the efficiency of vehicle transportation, accommodate more traffic, improve customer service, and better utilize our valuable real estate assets at MacMillan Yard, the largest rail classification terminal on CN’s network.”
The Toronto auto compound is one of 17 vehicle distribution facilities operated by Autoport Ltd. in Canada and the United States. A member of the CN WorldWide North America family of non-rail companies, Autoport extends CN’s transportation reach beyond its rail network.
CN has rail access to all vehicle assembly plants in Canada, numerous assembly plants in Michigan and one in Mississippi, and taps parts production facilities in Michigan and Ontario. It serves shippers of import vehicles via the ports of Halifax and Vancouver, and through interchange with other railroads.
This news release contains forward-looking statements. CN cautions that, by their nature, forward-looking statements involve risk, uncertainties and assumptions. Implicit in these statements, particularly in respect of long-term growth opportunities, is the Company’s assumption that such growth opportunities are less affected by the current situation in the North American and global economies. The Company cautions that its assumptions may not materialize and that the current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. The Company cautions that its results could differ materially from those expressed or implied in such forward-looking statements. Important factors that could cause such differences include, but are not limited to, the effects of adverse general economic and business conditions, including the current deep recession in the North American economy and the global economic contraction in 2009, 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 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.
CN – 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, St. Louis, and Jackson, Miss., with connections to all points in North America.