CN Announces 3 Year Network Rationalization Plan.MONTREAL, Quebec--(BUSINESS WIRE)--July 2, 1996--CN (ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CNR See riser card. CNR - Communication and Network Riser .IR, NYSE NYSE See: New York Stock Exchange : CNI (1) (Certified NetWare Instructor) See Novell certification. (2) (Coalition for Networked Information, Washington, DC, www.cni.org) A partnership of the Association of Research Libraries, CAUSE and EDUCOM, founded in 1990. ) today announced its three year plan for the rationalization rationalization, in psychology: see defense mechanism. of its Canadian rail network. The announcement, obligatory obligatory /ob·lig·a·to·ry/ (ob-lig´ah-tor?e) obligate. obligatory unavoidable; something that is bound to occur. under the new legislation, follows Proclamation An act that formally declares to the general public that the government has acted in a particular way. A written or printed document issued by a superior government executive, such as the president or governor, which sets out such a declaration by the government. of the new Canada Transportation Act, provisions of which will facilitate railroad line rationalization. The plan includes approximately 1400 miles of railroad which CN intends to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose in 1996. Rationalization activity with respect to an additional 752 miles is already underway. As a result, the company expects to exceed its previously announced goal of 2,000 miles of rail line rationalization in 1996. CN's network rationalization plan will be updated on a regular basis. CN's president and chief executive officer Paul M. Tellier said "CN is slightly ahead of schedule for line rationalization and clearly on target to meet its goal of 4,000 miles of rationalization through 1999. Our objective is to evolve rapidly into a high density core rail system served by a network of cost-effective feeder lines Noun 1. feeder line - a branching path off of a main transportation line (especially an airline) itinerary, route, path - an established line of travel or access and offering improved service to customers." The new legislation expedites the transfer of non-core lines to short-line operators as well as the discontinuance Cessation; ending; giving up. The discontinuance of a lawsuit, also known as a dismissal or a non-suit, is the voluntary or involuntary termination of an action. DISCONTINUANCE, pleading. A chasm or interruption in the pleading. 2. of lines which are no longer economically viable. Mr. Tellier added: "CN will work with customers and communities on abandoned lines to develop alternative methods of transportation, such as rail-truck transfer, intermodal containerization con·tain·er·ize v.tr. con·tain·er·ized, con·tain·er·iz·ing, con·tain·er·iz·es 1. To package (cargo) in large standardized containers for efficient shipping and handling. 2. or break-bulk facilities." The creation of internal short-lines where possible will also be considered. CN also indicated that VIA's Quebec-Windsor corridor and transcontinental service will not be affected by these changes. A similar strategy has been employed in the US rail industry for more than a decade. The result has been the emergence of a dynamic short-line rail system, and the economic renewal of the major railroad systems. A list of affected lines is attached. 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 is Canada's largest and North America's sixth largest railway based on 1995 revenues of $4.1 billion. It serves all Canada's major economic centers, natural resource regions and ports. CN has strategic connections with all major US railroads. -0-
CANADIAN NATIONAL
OFFICIAL NETWORK RATIONALIZATION PLAN
Milepoints
Subdivision District Province From To Total Class
CASCAPEDIA Champlain Que 0.0 98.0 98.0 Transfer CHANDLER Champlain Que 0.0 48.1 48.1 Transfer CHANDLER Champlain Que 48.1 104.2 56.1 Discontinue ST RAYMOND Champlain Que 1.6 16.5 14.9 Discontinue TASCHEREAU Champlain Que 99.0 181.4 82.4 Discontinue SHERBROOKE Champlain Que 15.8 110.2 94.4 Transfer SOREL Champlain Que 45.5 48.2 2.7 Discontinue VANKLEEK Champlain Ont 0.0 20.8 20.8 Transfer MEAFORD Great Lakes Ont 0.0 30.4 30.4 Discontinue NEWMARKET Great Lakes Ont 2.5 63.0 60.5 Discontinue CASO(1) Great Lakes Ont 19.5 169.9 150.4 Discontinue OAK POINT La Verendrye Man 7.8 131.0 123.2 Discontinue STEEP ROCK La Verendrye Man 0.0 12.1 12.1 Discontinue HARTNEY La Verendrye Man 0.0 42.4 42.4 Transfer LAMPMAN La Verendrye Sask 88.9 93.4 4.5 Discontinue MIAMI La Verendrye Man 0.0 102.2 102.2 Transfer COWAN La Verendrye Man 0.0 83.5 83.5 Discontinue ERWOOD La Verendrye Man 0.0 24.0 24.0 Discontinue SHERRIDON La Verendrye Man 0.0 184.8 184.8 Discontinue WINNIPEGOSIS La Verendrye Man 0.0 10.9 10.9 Discontinue ARBORFIELD Great Plains Sask 0.0 19.4 19.4 Discontinue AVONLEA Great Plains Sask 51.7 88.3 36.6 Transfer BIG RIVER Great Plains Sask 5.1 56.5 5.5 Discontinue WHITE BEAR Great Plains Sask 0.0 24.5 24.5 Discontinue CHELAN Great Plains Sask 12.5 60.1 47.6 Discontinue CUDWORTH Great Plains Sask 38.4 85.0 46.6 Discontinue TISDALE Great Plains Sask 136.2 161.2 25.0 Discontinue IMPERIAL Great Plains Sask 9.0 50.6 41.6 Discontinue MANNING Great Plains Alb 0.0 183.0 183.0 Transfer MEANDER RIVER Great Plains Alb 183.0 375.8 192.8 Transfer SMOKY Great Plains Alb 289.0 305.1 16.1 Discontinue LAC LA BICHE Great Plains Alb 74.1 113.1 39.0 Discontinue WATERWAYS Great Plains Alb 113.1 276.0 162.9 Discontinue MANTARIO Great Plains Sask 0.0 43.4 43.4 Discontinue (1) Submitted jointly with CP TRANSFER: Transaction by which the company transfers its proprietary or operating interest in a railway line to a short line railway operator, whose intention is to pursue its operation. This option applies to lines that have the potential to be profitable if operated at lower cost as short lines. DISCONTINUATION dis·con·tin·u·a·tion n. A cessation; a discontinuance. Noun 1. discontinuation - the act of discontinuing or breaking off; an interruption (temporary or permanent) discontinuance OF OPERATION: Total interruption of railway activity on a given line. This option applies to lines whose potential for profitability is very weak. The law obliges us, however, to offer this line to private interests for a period of two months. If no interest is shown, or no agreement is concluded within the prescribed pre·scribe v. pre·scribed, pre·scrib·ing, pre·scribes v.tr. 1. To set down as a rule or guide; enjoin. See Synonyms at dictate. 2. To order the use of (a medicine or other treatment). time limits, or if the transfer is not completed, the Company must offer the governments or municipal administrations proprietary or operating interest in the line in question at its net recovery value. NOTE: The three year plan is also available on the internet at: http://www.cn.ca/english/network/3yrplan.htm CONTACT: Canadian National Railway Company Media: Alain Bergeron Alain Bergeron (born February 11, 1950) is a Québécois science fiction author and political scientist. Born in Paris, France, he has won the Aurora Award and Sidewise Award for Alternate History. He has written seven books, beginning with Un été de Jessica (1978). , 514/399-7210 INTERNET: http://www.cn.ca/english/network/3yrplan.htm or Investment Community: James M. Foote, 514/399-0052 INTERNET: http://www.cn.ca/english/network/3yrplan.htm |
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