Canadian National to Invest $35 Million in Manitoba During 1997.WINNIPEG, Manitoba--(BUSINESS WIRE)--Aug. 8, 1997--CANADIAN NATIONAL (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 will spend about $35 million this year in Manitoba to upgrade, expand, and maintain its operations throughout the province. This expenditure is part of CN's total 1997 capital investment of $560 million. Over the past three years, CN has invested more than $1.4 billion in capital projects across its system. "CN's presence in Manitoba is long-standing, and vital to the continued success of our business," said President and Chief Executive Officer Paul M. Tellier. "This investment ensures we will continue to provide our customers with efficient, competitive service to markets throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and overseas." CN's investment in Manitoba during 1997 includes: - $16.4 million for ties, ballast, rail, and other track materials; - $2 million to establish a locomotive reliability centre at CN's Winnipeg Symington yard. The centre will maintain and repair CN's General Electric locomotive fleet, including the 40 high horsepower locomotives CN ordered from GE earlier this year for delivery this winter; - $9.4 million for equipment upgrades and facility improvements in CN's national Customer Support Centre, located in Winnipeg; - $2.6 million for investment in signals and communications systems; - $5.2 million for various other projects including bridge upgrades, new trackage track·age n. 1. Railway tracks. 2. a. The right of one railroad company to use the track system of another. b. The charge for this right. , and equipment facilities. CN currently runs about 700 trains a week through Manitoba. About 3,000 CN employees work in the province, for a total annual payroll of about $111 million. In 1996, CN paid a total of $24.1 million in taxes to the Province of Manitoba. Major CN facilities in the province include the railway's national Customer Support Centre, the Transcona Shops, Symington yard, and the Winnipeg Intermodal Terminal, all in Winnipeg. Winnipeg is also headquarters for CN's La Verendrye District, and CN's grain marketing business group. 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. It serves all of Canada, including the key ports of Vancouver, Montreal and Halifax, and the gateways of Chicago and Detroit, with connections to all points in North America. CONTACT: Canadian National Railway Company Scott Roberts, 403/421-6338 http://www.cn.ca |
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