CN Reaches Tentative Agreement With Canadian National Railways Police Association.MONTREAL--(BUSINESS WIRE)--July 2, 1998--Canadian National (ME:CNR.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CNR.) (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. ) and the union representing its police officers have reached a tentative agreement on a new three-year labor contract running through the end of 2000. The tentative agreement with the 74-member Canadian National Railways Police Association provides for significant pension plan improvements, better benefits and wage increases. It is subject to ratification by union members. To date, four CN unions representing 61 per cent of CN's unionized workforce of approximately 17,460 in Canada have ratified new collective agreements with the Company. The tentative CNRPA agreement, similar to labor pacts ratified by the Canadian Council of Railway Operation Unions (representing the Brotherhood of Locomotive Engineers The Brotherhood of Locomotive Engineers (BLE) was a labor union founded in Marshall, Michigan on May 8, 1863, as The Brotherhood of the Footboard; a year later, its name was changed to The Brotherhood of Locomotive Engineers. and United Transportation Union), the International Brotherhood of Electrical Workers The International Brotherhood of Electrical Workers (IBEW) is a labor union which represents workers in the electrical industry in the United States and Canada, particularly electricians, or Inside Wiremen, in the construction industry and linemen and other employees of public and Brotherhood of Maintenance of Way Employees, includes a range of major pension plan improvements. They are: an innovative method of sharing future investment earnings by the plan; progressive plan governance; increased individual pension benefits of up to $1,200 and improved pension indexation. The governance provisions of these agreements provide for the replacement of the existing CN pension board with a pension committee having broader powers, including the authority to improve pension benefits during the life of collective agreements for pensioners and current employees. The tentative CNRPA agreement, retroactive to Jan. 1, 1998, includes wage increases of two per cent annually and improvements to benefit, dental and extended health care plans. The Company and the CNRPA will also jointly develop and implement "gain-sharing" programs. Gain-sharing is a variable pay system under which CN will share with employees financial gains resulting in improved corporate performance in areas such as costs or productivity. CNRPA members will also be able to participate in CN's Employee Share Investment Plan, which permits employees to buy CN shares through payroll deductions of up to six per cent of base salary. The 300-member Rail Canada Traffic Controllers union has yet to ratify a new collective agreement with CN. CN remains in conciliation conciliation: see mediation. with the Canadian Auto Workers The Canadian Auto Workers (CAW; formally the National Automobile, Aerospace, Transportation and General Workers Union of Canada) is one of Canada's largest and highest profile trade unions. union, which represents about 6,000 active clerical, shopcraft and independent contractors. CN believes it has reached an impasse with the CAW and has requested that the federal government releases the parties from the conciliation process so that they can bargain against a strike or lockout lockout, intentional closing up of a company, factory, or shop by an employer to prevent employees from working during a strike or labor dispute. The term lockout deadline. 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 serves all of Canada the U.S. Midwest, including the ports of Vancouver, Montreal and Halifax and the key cities of Toronto, Chicago, Detroit and Buffalo, with connections to all points in North America.
CONTACT: Canadian National Railway Company
Mark Hallman, 416/217-6390
http://www.cn.ca
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