CN and machinists' union sign five-year collective agreement covering U.S. employees.

CHICAGO -- CN and the International Association of Machinists and Aerospace Workers (IAMAW) have signed a five-year collective agreement covering 215 CN employees in the United States.

The labor pact, providing improved wages, benefits and employment security for affected employees, consolidates into one collective agreement seven separate agreements previously in force at CN operations in the U.S. and at U.S. railroads acquired by CN in recent years.

The new CN-IAMAW agreement, which has been ratified by the union's membership, is effective immediately and runs through the end of 2009.

The five-year term of the contract is consistent with recent collective agreement extensions at CN's Canadian operations, a development that provides greater labor relations stability for the company and its unionized employees.

Canadian National Railway Company spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, 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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Canadian National Railway Company (TSX:CNR) (NYSE:CNI)