Canadian National: Bridge Sale Prepares Way for Canada-U.S. Trade Growth.Business Editors NIAGARA FALLS, ONTARIO--(BUSINESS WIRE)--April 29, 2002 CN (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) A new international freight transportation route dedicated to heavy trucks took a step closer to reality here today with the announcement that a bi-national business partnership will purchase the former Niagara River railway bridge between this city and its counterpart in New York State. "Looking ahead five years, we see the day when a dedicated three-lane roadway over the former railway bridge will expedite truck traffic and alleviate growing congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. at this key border crossing," said William H. Truesdale Jr., President of Whirlpool International Truck Bridge (U.S.A.) Inc. Along with a related Canadian company, WITB has agreed to purchase the bridge from the Canada Southern Railway The Canada Southern Railway (AAR reporting marks CASO) was a railroad in southern Ontario, Canada, founded on February 28, 1868 as the Erie and Niagara Extension Railway and later adopted the Canada Southern Railway name on December 24, 1869. Company (CASO) for $C19.8 million. CASO is jointly owned by 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 and Canadian Pacific Railway Canadian Pacific Railway, transcontinental transportation system in Canada and extending into the United States, privately owned and operated. The construction of a railroad crossing the continent in Canadian territory was one of the conditions on which British Ltd. WITB (U.S.A.) and Whirlpool International Truck Bridge (Canada) Inc. are owned by the same six investors, with diverse backgrounds in the construction, transportation, customs and immigration fields as well as cross-border brokerage and government relations. The Whirlpool Rapids Bridge The Whirlpool Rapids Bridge, commonly called the Whirlpool Bridge and formerly known as the Lower Steel Arch Bridge until 1937, is a spandrel braced, riveted, two-hinged arch bridge. This is an international bridge between Canada and the United States. immediately to the north of the former CASO bridge is owned by the Niagara Falls Bridge Commission The Niagara Falls Bridge Commission international public authority controlling three bridges between Ontario in Canada and New York in the United States. The Commission's bridges are the Lewiston-Queenston Bridge, Whirlpool Rapids Bridge and Rainbow Bridge. and is not involved in the sale. There is no commercial or corporate relationship between the two bridges or their owners. "WITB was the only entity to formally express interest in buying the CASO bridge before truck border crossings became a high-profile issue in the post-September 11 environment," said Mr. Truesdale. "Our plan for some time has been - subject to government and regulatory approvals -- to develop a dedicated international toll bridge for the exclusive use of large commercial trucks." The proposed $US220-million redevelopment of the bridge and approaches is expected to take five years, including public and regulatory review and approval prior to the construction phase. The purchase is expected to close next year. Rising 75 metres above the Niagara River, the steel-arch bridge was built for the Michigan Central Railway in the early 1920s and opened for traffic in 1925. Some 215 metres of its 378-metre length are in the United States, with the remaining 163 metres in Canada. After several ownership changes it was purchased in 1985 along with other CASO assets by Canadian National (CN) and Canadian Pacific Railway (CPR Cardiopulmonary Resuscitation (CPR) Definition Cardiopulmonary resuscitation (CPR) is a procedure to support and maintain breathing and circulation for a person who has stopped breathing (respiratory arrest) and/or whose heart has stopped (cardiac ). It formed part of a CPR international gateway route until Dec. 19, 2001. That's when CN and CPR, along with city and Ontario government officials, held a ceremony in Niagara Falls to mark the rerouting of freight trains from the eastern approach to the bridge through the city's busy tourist area. Niagara Falls and the Ontario Lottery and Gaming Corp. had bought the line following a trackage rights agreement between the two railways, which allowed the rerouting of CPR trains to the international CN route via Fort Erie. Removal of 6.6-miles (10.7-kilometres) of downtown track was an important step in allowing the city to take the lead in redevelopment of prime real estate. Local CPR freight trains continue to serve industries located in the south end of Niagara Falls, while the efficiency of its international route has improved. Canadian National Railway Company 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 . Calgary-based CPR is North America's first transcontinental railway and the only transcontinental carrier with direct service to the U.S. Eastern Seaboard. |
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