CN Publishes Annual Grain Plan
July 29 2022 - 1:00PM
CN (TSX: CNR) (NYSE: CNI) today published its 2022-2023 Grain Plan,
which describes CN’s preparations for moving a western Canadian
grain crop that is expected to rebound from last year’s
drought--impacted levels.
“The strength of our agriculture sector is
critical to Canada’s economy and to feeding the world. Our team at
CN is confident that the adjustments we have made to our operations
and planning heading into this fall, combined with the investments
made with an eye to future economic growth, will enable us to
deliver strong results in 2022–23 for Western Canadian
agriculture.”
- Tracy Robinson, chief
executive officer, CN
The Plan sets out the specific steps that CN is
taking to ensure it can meet the forecast demand from the grain
sector in the new crop year. For example, the Plan provides details
on workforce recruitment, adding 57 new high horsepower locomotives
and new rolling stock, all to support the delivery of grain and
other commodities. Faced with growing demands from all sectors, the
Plan also calls for greater balance across all rail corridors to
reach the upper end of the maximum sustainable supply chain
capacity range. That requires making better use of the eastern
Canadian network, including Thunder Bay when the St. Lawrence
Seaway System is open to navigation, and direct rail shipments to
St. Lawrence River ports when the Seaway closes for winter.
CN continues to add new high-capacity grain
hopper cars to its fleet as part of ongoing capacity expansion. In
2022, CN is adding 500 new covered hopper cars, and will bring on
an additional 500 in early 2023. Through the remainder of 2023 and
2024, the Company will take delivery of another 750 covered
hoppers. The new cars can carry up to 15 percent more grain than
less efficient legacy cars. CN will be increasing its active
operating crew base in Western Canada and plans to hire over 500
new additional employees.
CN’s annual Grain Plan is prepared through an
extensive consultation process and input from key stakeholders. The
plan reviews CN’s performance during the last crop year, assesses
CN’s ability to move anticipated levels of grain during the
upcoming crop year. It also explains specific steps CN is taking to
ensure it has the capacity to move grain safely and efficiently on
behalf of farmers, customers and supply chain partners, and to
respond to the known and unknown challenges that North American
winters bring.
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 18,600-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.
Contacts:
Media |
Investment
Community |
Jonathan Abecassis |
Paul Butcher |
Senior Manager |
Vice-President |
Media Relations |
Investor Relations |
(438) 455-3692 |
(514) 399-0052 |
media@cn.ca |
investor.relations@cn.ca |
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