CN reaches 20th voluntary mitigation agreement (VMA), makes substantial strides in EJ&E integration
Jim Vena, senior vice-president, Southern Region, said: “CN has made substantial strides in dealing with the effects of the EJ&E transaction on communities along the line, as well as in integrating the railroad into our North American network. We have been committed to developing constructive working relationships with communities on the EJ&E, and we have been particularly pleased that so many EJ&E municipalities have been willing to undertake productive VMA negotiations with CN. The current number of VMAs – 20 out 33 communities along the EJ&E – and a series of other measures underscore our commitment to work with municipalities to minimize the transaction’s impacts on EJ&E communities and to ensure safe operations.” Such measures include:
- A substantial reduction in the number and duration of vehicular delays caused by trains stopped at EJ&E grade crossings for 10 minutes or more;
- Creation of a section on CN’s website with information about EJ&E construction projects and routine maintenance activities that may affect vehicular traffic;
- Community liaison meetings to follow through with voluntary mitigation agreements and regulatory requirements. These meetings have generated positive partnerships with affected communities and solid feedback to the company;
- Operation Lifesaver presentations at schools to educate children and teenagers about the importance of rail safety and dangers of rail trespass;
- Comprehensive emergency responder training programs offered by CN at its own expense to all communities along the EJ&E, including tank car specialist training at Pueblo, Colo. With this training, the Chicago area possesses as high a concentration of highly-qualified experts as any region on the CN system;
- Application of new safety equipment on the EJ&E to monitor rail wheel and bearing conditions, as well as rail lubricators to reduce train noise, and
- Advanced planning for the construction over the next few years of key connections that will enhance the fluidity of train movements along the former EJ&E and CN’s network in the greater Chicago area.
This news release contains forward-looking statements. CN cautions that, by their nature, forward-looking statements involve risk, uncertainties and assumptions. Implicit in these statements, particularly in respect of long-term growth opportunities, is the Company’s assumption that such growth opportunities are less affected by the current situation in the North American and global economies. The Company cautions that its assumptions may not materialize and that the current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. The Company cautions that its results could differ materially from those expressed or implied in such forward-looking statements. Important factors that could cause such differences include, but are not limited to, the effects of adverse general economic and business conditions, including the recession in the North American economy and the global economic contraction in 2009, industry competition, inflation, currency and interest rate fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, actions by regulators, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor negotiations and disruptions, environmental claims, uncertainties of investigations, proceedings or other types of claims and litigation, risks and liabilities arising from derailments, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to “Management’s Discussion and Analysis” in CN’s annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN’s website, for a summary of major risks.
