CN announced on Feb. 10, 2016 the details of its 2016 plan to invest approximately C$2.9 billion in rail infrastructure and equipment “to raise network efficiency, support long-term growth and further strengthen safety.”
Canadian National Railway (CN) filed on Jan. 5, 2016 a final shelf prospectus with Canadian securities regulators and a registration statement with the United States Securities and Exchange Commission (SEC), pursuant to which CN may issue up to C$6 billion of debt securities in Canadian and U.S. markets over the next 25 months.
Canadian National Railway (CN) announced Dec. 17, 2015 that the 2016 CN Employees’ and Pensioners’ Community Fund (the Fund) campaign raised a record C$1,857,920 for charities across Canada.
Canadian National Railway (CN) announced Dec. 18, 2015 that more than 1,500 first responders along its rail network have downloaded the AskRail mobile app to access real-time information about the contents of rail cars in their communities.
The Children’s Hospital Foundation of Manitoba and Canadian National Railway (CN) announced Dec. 12, 2015 that the CN Miracle Match program has helped raise more than $760,000 for the Children’s Hospital-HSC Winnipeg.
In a Dec. 10, 2015 interview with Bloomberg TV Canada, BNSF Executive Chairman Matt Rose stated that his company has spoken to both eastern Class I railroads about potential merger activity. “We have long believed BNSF would be involved in the industry potentially consolidating from seven carriers to four,” says Cowen & Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl. “We continue to believe Norfolk Southern shares will outperform and that investors will start to look at eastern rival CSX.”
Canadian National Railway (CN) on Dec. 11, 2015, along with John McCallum, Minister of Immigration, Refugees and Citizenship, announced a $5 million donation to assist communities with the resettlement of Syrian refugees across Canada.
Canadian National Railway (CN) announced on Dec. 10, 2015 a new long-term contract with Amsted Rail to produce one million wheels for use at its Transcona mechanical facility.
Net income of C$1.01 billion, compared with net income of C$853 million in second-quarter 2014, combined with an operating income increase of 16% and a record-low quarterly operating ratio of 53.8%, resulted in a solid third-quarter 2015 for CN, the railroad reported on Oct. 27, 2015.
Canada’s three major railways should benefit from the Oct. 19, 2015 sea-to-sea election sweep by Justin Trudeau’s Liberal Party of Canada. Trudeau’s party even managed to get four members of parliament elected in Alberta’s two metropolises, Calgary and Edmonton—the ideological and financial anchors of the defeated Stephen Harper’s pro-pipeline and anti-rail Conservative government.
