CN Acquires 150 Reefer Containers, Signs Option for 150 More, to Provide Continued Top-Line Service to Grocery Trade.Business Editors TORONTO--(BUSINESS WIRE)--July 18, 2002 Canadian National (NYSE NYSE See: New York Stock Exchange :CNI) (TSX:CNR) today announced the purchase of 150 state-of-the-art refrigerated containers and an option to buy 150 more. William K. Berry, CN's vice-president, intermodal, said: "CN is Canada's largest long-distance hauler of grocery industry products. This reefer reef·er n. Marijuana, especially a marijuana cigarette. purchase underscores CN's continuing commitment to provide high-quality transportation to the service-sensitive grocery trade. The new equipment will also improve our ability to capture additional grocery traffic." The 53-foot containers will have eight per cent more cubic space than the 48-foot containers they replace and weigh nine per cent less. CN moves the bulk of its grocery business on expedited intermodal trains between Central Canada and the western provinces. First introduced in June 2000, CN's "Need for Speed" intermodal trains cut transcontinental transit times by 24 hours and made CN fully competitive with long-haul team-driver trucking. Berry said: "Our grocery business consists of foodstuffs foodstuffs npl → comestibles mpl foodstuffs npl → denrées fpl alimentaires foodstuffs food npl → and associated household products, moving from Central Canada to distribution centres in the West. With these new containers, CN will offer grocery shippers the latest state-of-the-art equipment. In addition, CN will be positioned to capture lucrative backhaul movements of frozen meats, poultry and French fries that are produced in Western Canada and destined des·tine tr.v. des·tined, des·tin·ing, des·tines 1. To determine beforehand; preordain: a foolish scheme destined to fail; a film destined to become a classic. 2. for Eastern markets." Canadian National Railway Company Canadian National Railway Company (NYSE: CNI, TSX: CNR) is a Canadian rail transportation company that operates the Canadian National Railway. It was created in December, 1918 as a Crown corporation of the Government of Canada to nationalize several bankrupt rail systems spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key cities 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. |
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