CN sells remote control business to Cattron Group Inc.MONTREAL -- CN (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. ) (TSX:CNR) announced today the sale of its remote control business, including BELTPACK(R), to the Cattron Group Inc. of Sharpsville, Pa. Terms of the transaction were not disclosed. BELTPACK(R) Locomotive Remote Control is widely employed by major North American railroads in yard switching operations, where the technology has improved productivity and safety. CN was the first Class 1 railroad to make extensive use of the technology and has a large installed base of BELTPACK(R) units. Cattron's principal operating company is Cattron-Theimeg Inc., which produces remote control products for locomotive and rail operations, overhead cranes and material handling, mining and ship and grain handling. CN's remote control business was separated from the railway's former CANAC CANAC Canadian Association of Nurses in AIDS Care CANAC Cisco Nac Appliance Inc. subsidiary prior to CANAC's sale in April 2004. Claude Mongeau, CN's executive vice-president and chief financial officer, said: "This transaction with Cattron will help CN focus on what it does best - railroading rail·road·ing n. The construction or operation of railroads. Noun 1. railroading - the activity of designing and constructing and operating railroads rail technology . It will also put BELTPACK(R) and other remote control products and services in the hands of a growing international company focused on developing and supporting leading edge remote control technology in a global market. This will benefit employees who produce the technology and the many customers who use it." 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. www.cn.ca |
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