CN to Sell Northern Alberta Rail Network.EDMONTON, ALBERTA--(BUSINESS WIRE)--Aug. 26, 1997-- 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 ., 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. . ) Canadian National announced today it will invite shortline railway operators to bid on its rail network in northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. and the Northwest Territories. The network sale is expected to close this year. The network consists of 1,025 kilometres (640.4 miles) of track running northward from Smith, Alta., located 210 kilometres north of Edmonton, to Hay River, N.W.T. A branch line running west of Peace River, Alta., to Hines Creek, Alta., is included in the package. The lines primarily serve the agricultural, forest products and northern re-supply industries. The network has no passenger service. "The objective of the sale is to preserve and improve rail service in northern Alberta and the Northwest Territories, while providing shippers with a convenient connection to our high-density main line" said Francois Hebert, assistant vice-president, business planning and network rationalization. "Shortline railways are very successful at providing customer-focused, cost-effective service on light-density lines. They play a vital role in the development of the local and provincial economies." CN will provide long-haul service for the new shortline, giving shippers and receivers the advantages of a local shortline operation and the efficiencies of CN's high-density network and links to North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and overseas markets. The proposed sale will affect 76 CN employees, who will have a number of options available to them under their collective agreements. 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 freight railway, based on 1996 revenue of $4.0 billion. CN serves all of Canada, including the key ports of Vancouver, Montreal and Halifax and the gateways of Chicago and Detroit with connection to all points in North America. CONTACT: Canadian National Railway Company Jim Feeny, 403/421-6324 http://www.cn.ca |
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