MONTREAL, Jan. 30, 2015 - CN (TSX: CNR) (NYSE: CNI) announced today that it intends to purchase for cancellation up to 1.2 million of its common shares pursuant to a private agreement between CN and an arm's-length third-party seller. The purchase will form part of CN's repurchase program for up to 28 million shares announced on Oct. 21, 2014.
Such purchase will be made pursuant and subject to the terms of an issuer bid exemption order issued by the Autorité des marchés financiers (Order) and will take place before March 31, 2015. In accordance with the Order, CN's purchases under such private agreements will not exceed, in the aggregate, one-third of the maximum number of shares that it may purchase under its share repurchase program, or 9,333,333 common shares. The price that CN will pay for any common shares purchased by it under such agreements will be negotiated by CN and the third-party seller and will be at a discount to the prevailing market price of CN's common shares on the Toronto Stock Exchange at the time of the purchase. Information regarding each purchase, including the number of common shares purchased and aggregate purchase price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com following the completion of any such purchase.
Forward-Looking Statements
Certain information included in this news release constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including potential purchases of common shares for cancellation under a normal course issuer bid or by private agreements. CN cautions that, by their nature, these forward-looking statements involve risk, uncertainties and assumptions. 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.
Important risk factors that could affect the above forward-looking statements include, but are not limited to, the effects of general economic and business conditions, 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 and assumptions 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 and assumptions.
CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable Canadian securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
CN is a true backbone of the economy, transporting more than C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network spanning Canada and mid-America. CN - Canadian National Railway Company, along with its operating railway subsidiaries -- serves the cities and ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the Company's website at www.cn.ca.
Friday, January 30, 2015
Cardinal Logistics Announces Tom White as Executive Chairman
Concord, N.C. (January 30, 2015) – Cardinal Logistics Management Corporation, a nationwide provider of transportation and third-party logistics services, today announced the appointment of Tom White as Executive Chairman of Cardinal and its parent company, Cardinal Logistics Holdings, LLC. Mr. White succeeds Brandt McKee, who has been serving as interim Chairman of the parent company following the departure of John Tague in November 2014. Mr. McKee will continue to serve as a member of the Board of Directors of the parent company.
Tom White, 57, brings a wealth of experience to this role, having formerly served in senior management positions with CEVA Logistics, a leading global forwarding and contract logistics company, Hub Group, Inc., a leading domestic intermodal and logistics company and as Board Chairman of Quality Distribution, Inc., the leading North American chemical bulk and intermodal transportation company.
In accepting the role of Executive Chairman at Cardinal, Mr. White said, “I am excited to join such a high quality organization with its intense customer-focused culture. Cardinal is a leading dedicated transportation provider in the United States with talented people and a broad array of capabilities and technologies. I look forward to working with Cardinal’s management team and its majority owner Centerbridge Partners to strengthen and grow the business.”
Commenting on the appointment of Mr. White to the Executive Chairman position, Will Manuel, Senior Managing Director at Centerbridge Partners, remarked, “Tom is a proven leader who has the experience and skill set necessary to successfully lead our market-leading organization.”
About Cardinal Logistics Management Corporation
Cardinal Logistics Management Corporation is a privately held third-party logistics provider serving the United States and Canada. Cardinal and its affiliates offer an integrated service platform to customers including dedicated, irregular route truckload, full-service truckload brokerage, warehouse-based logistics and managed transportation services. Cardinal is one of the largest for-hire providers of dedicated refrigerated transportation in the United States. The company ranks 23rd among Transport Topics’ Top 50 Logistics Providers, is a Food Logistics Top 100 3PL Provider and an Inbound Logistics Top 100 Motor Carrier.
About Centerbridge
Centerbridge Partners, L.P. is a private investment firm based in New York City and currently has approximately $25 billion in capital under management. The firm focuses on private equity and credit investments. The firm is dedicated to partnering with world-class management teams across targeted industry sectors to help companies achieve their operating and financial objectives.
Tom White, 57, brings a wealth of experience to this role, having formerly served in senior management positions with CEVA Logistics, a leading global forwarding and contract logistics company, Hub Group, Inc., a leading domestic intermodal and logistics company and as Board Chairman of Quality Distribution, Inc., the leading North American chemical bulk and intermodal transportation company.
In accepting the role of Executive Chairman at Cardinal, Mr. White said, “I am excited to join such a high quality organization with its intense customer-focused culture. Cardinal is a leading dedicated transportation provider in the United States with talented people and a broad array of capabilities and technologies. I look forward to working with Cardinal’s management team and its majority owner Centerbridge Partners to strengthen and grow the business.”
Commenting on the appointment of Mr. White to the Executive Chairman position, Will Manuel, Senior Managing Director at Centerbridge Partners, remarked, “Tom is a proven leader who has the experience and skill set necessary to successfully lead our market-leading organization.”
About Cardinal Logistics Management Corporation
Cardinal Logistics Management Corporation is a privately held third-party logistics provider serving the United States and Canada. Cardinal and its affiliates offer an integrated service platform to customers including dedicated, irregular route truckload, full-service truckload brokerage, warehouse-based logistics and managed transportation services. Cardinal is one of the largest for-hire providers of dedicated refrigerated transportation in the United States. The company ranks 23rd among Transport Topics’ Top 50 Logistics Providers, is a Food Logistics Top 100 3PL Provider and an Inbound Logistics Top 100 Motor Carrier.
About Centerbridge
Centerbridge Partners, L.P. is a private investment firm based in New York City and currently has approximately $25 billion in capital under management. The firm focuses on private equity and credit investments. The firm is dedicated to partnering with world-class management teams across targeted industry sectors to help companies achieve their operating and financial objectives.
Wednesday, January 28, 2015
LQ Board Announcement - Michael Snedden
About Rogers Communications
Rogers Communications Inc. is a diversified Canadian communications and media company. We are Canada's largest provider of wireless voice and data communications services and one of Canada's leading providers of cable television, high-speed Internet and telephony services. Through Rogers Media we are engaged in radio and television broadcasting, televised shopping, magazines and trade publications, and sports entertainment. We are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For further information about the Rogers group of companies, please visit www.rogers.com
LQ's Advisory Board
As a resource for logisticians, academics and executives in other disciplines in the United States and Canada, LQ offers ideas for leadership in logistics, supply chain management and transportation, and provides a unique bridge between business, academia and practitioners. LQ’s Advisory Board and contributors afford authoritative thinking on the complex and fast-changing work of the logistics and supply chain management business - with a unique focus on best practices in the United States and Canada. LQ's Board plays a pivotal role in providing direction for LQ Magazine and LQ’s bi-annual Symposiums.
Tuesday, January 27, 2015
LQ Board Announcement - Ian Murray
LQ is pleased to announce that Ian Murray has accepted LQ’s invitation to join its Advisory Board
January 28, 2015, Toronto, ON - Ian Murray has been at Canadian Pacific (CP) for over two decades and returned to Intermodal in 2011 after building and leading CP's Logistics Solutions division, based in Alberta, for 10 years. In his current position he is responsible for providing overall business direction and developing strategies to deliver quality growth that provides value to CP's domestic and international intermodal customers. Ian's experience in distribution, logistics services and transportation provide a good background for him to discuss supply chain excellence and the role CP can play in supporting customers' goals.
About Canadian Pacific:
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.
LQ's Advisory Board:
As a resource for logisticians, academics and executives in other disciplines in the United States and Canada, LQ offers ideas for leadership in logistics, supply chain management and transportation, and provides a unique bridge between business, academia and practitioners. LQ’s Advisory Board and contributors afford authoritative thinking on the complex and fast-changing work of the logistics and supply chain management business - with a unique focus on best practices in the United States and Canada. LQ's Board plays a pivotal role in providing direction for LQ Magazine and LQ’s bi-annual Symposiums.
January 28, 2015, Toronto, ON - Ian Murray has been at Canadian Pacific (CP) for over two decades and returned to Intermodal in 2011 after building and leading CP's Logistics Solutions division, based in Alberta, for 10 years. In his current position he is responsible for providing overall business direction and developing strategies to deliver quality growth that provides value to CP's domestic and international intermodal customers. Ian's experience in distribution, logistics services and transportation provide a good background for him to discuss supply chain excellence and the role CP can play in supporting customers' goals.About Canadian Pacific:
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.
LQ's Advisory Board:
As a resource for logisticians, academics and executives in other disciplines in the United States and Canada, LQ offers ideas for leadership in logistics, supply chain management and transportation, and provides a unique bridge between business, academia and practitioners. LQ’s Advisory Board and contributors afford authoritative thinking on the complex and fast-changing work of the logistics and supply chain management business - with a unique focus on best practices in the United States and Canada. LQ's Board plays a pivotal role in providing direction for LQ Magazine and LQ’s bi-annual Symposiums.
Friday, January 23, 2015
Canadian Pacific Announcement
Canadian Pacific announces the appointment of Timothy E. Marsh as Senior Vice-President Sales and Marketing
January 21, 2015 Calgary, AB - Canadian Pacific (TSX:CP) (NYSE:CP) has announced that Timothy (Tim) E. Marsh has been appointed Senior Vice-President Sales and Marketing effective Feb. 1, 2015.
Marsh joins CP from COSCO where he had been Executive Vice-President North America Trade Division. His career at COSCO began in 2002 when he was appointed General Manager National Sales. Marsh brings to CP 25 years of sales and marketing experience in the international shipping industry.
"Finding the right person to lead CP's sales and marketing team is integral as we look to position ourselves for long-term growth," said Keith Creel, CP's President and Chief Operating Officer. "Our team has built a strong foundation for the future, and with Tim leading the charge, we expect to provide innovative service to our customers, uncover new opportunities, diversify the business and achieve our goals."
As Senior Vice-President Sales and Marketing, Marsh will lead a large, world-class sales and marketing organization. Marsh will be responsible for enhancing existing revenues, winning new business, prioritizing and improving the quality of the book of business, diversifying the revenue base by creating new products and services, identifying opportunities – and developing strategies – for new, aligned lines of business.
"I am thrilled at the opportunity to join a Canadian icon such as CP, which is in the midst of a remarkable transformation," said Marsh. "CP's focus on the customer, service and its own people makes it a company that attracts the best talent, and I am humbled to join such an ambitious and capable team."
Marsh holds a Bachelor of Arts degree from Le Moyne University in Syracuse, New York and an M.B.A. in Marketing from the University of Phoenix.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.
January 21, 2015 Calgary, AB - Canadian Pacific (TSX:CP) (NYSE:CP) has announced that Timothy (Tim) E. Marsh has been appointed Senior Vice-President Sales and Marketing effective Feb. 1, 2015.
Marsh joins CP from COSCO where he had been Executive Vice-President North America Trade Division. His career at COSCO began in 2002 when he was appointed General Manager National Sales. Marsh brings to CP 25 years of sales and marketing experience in the international shipping industry.
"Finding the right person to lead CP's sales and marketing team is integral as we look to position ourselves for long-term growth," said Keith Creel, CP's President and Chief Operating Officer. "Our team has built a strong foundation for the future, and with Tim leading the charge, we expect to provide innovative service to our customers, uncover new opportunities, diversify the business and achieve our goals."
As Senior Vice-President Sales and Marketing, Marsh will lead a large, world-class sales and marketing organization. Marsh will be responsible for enhancing existing revenues, winning new business, prioritizing and improving the quality of the book of business, diversifying the revenue base by creating new products and services, identifying opportunities – and developing strategies – for new, aligned lines of business.
"I am thrilled at the opportunity to join a Canadian icon such as CP, which is in the midst of a remarkable transformation," said Marsh. "CP's focus on the customer, service and its own people makes it a company that attracts the best talent, and I am humbled to join such an ambitious and capable team."
Marsh holds a Bachelor of Arts degree from Le Moyne University in Syracuse, New York and an M.B.A. in Marketing from the University of Phoenix.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.
Monday, January 19, 2015
BCG Logistics Group Acquires Cannon Express, LLC.
Toronto, ON - January 19, 2015 - BCG Logistics Group is proud to announce it has acquired a participating interest in Cannon Express, LLC, an asset-based carrier serving the southeastern US market from its headquarters in Atlanta, GA.
This acquisition reflects BCG Logistics’ strategy in Canada and the United States to offer its growing portfolio of international customers more services, efficiencies and a ‘One America Supply Chain Solution’.
Cannon will continue to operate as a separate company and using the Cannon Express brand under the auspices of Toronto-based BCG Logistics Group. In addition the existing Cannon management team will continue to report to Cannon President, Frank A. Cannon.
In this initial phase of the integration process, the Cannon team plans to leverage BCG Logistics’ technologies, such as its proprietary TMS “STARS” technology, to meet its customers growing demand for more information, new efficiencies and services. Both BCG Logistics Group and Cannon Express have focused their businesses on providing high quality regional solutions in the U.S. and Canadian markets, and BCG’s proprietary “STARS” Technology will contribute to Cannon’s reputation as a regional leader in the pre-8 a.m. delivery market.
“The acquisition of Cannon Express is consistent with BCG Logistics’ corporate strategy to expand its portfolio of services and increase its scope of customers and operations in North America,” says Allan Smith, President & CEO of BCG Logistics Group, adding: “The staff and current owners at Cannon are excited to be part of BCG’s future and we will be incorporating “STARS” into Cannon’s existing southeastern US customer base in the coming months. This is an important part of a strong, fully integrated partnership that will offer BCG Logistics Group’s clients an enhanced portfolio of trans border services. It’s our company’s strategy to support our customers’ distribution efforts across North America by leveraging one powerful and growing platform.”
About BCG Logistics Group
BCG Logistic Group is a technology-based 3PL, dedicating to developing and managing innovative distribution programs in Canada for its international client base as a full-service Canadian 3PL. Its portfolio of services includes: supply chain consulting, U.S. and Canadian transportation management, cross-dock operations (pre-8 a.m. parts distribution), freight audit and payment services. BCG Logistics is a complete service provider offering extensive experience in retail, automotive, agricultural and industrial distribution and sequencing for its diverse customer base, with locations across Canada that include: Toronto, ON; Branford, ON; Vancouver, BC; Edmonton, AB; Winnipeg, MB and in the Midwestern United States, Chicago, IL. BCG Logistics’ technical team has developed an innovative, customized, flexible and user-friendly TMS operating system, “STARS”, which offers complete visibility and accountability of customer supply chains. For more information on BCG Logistics visit: www.bcglogistics.com
About Cannon Express, LLC
Cannon is a full service asset-based pre-8 a.m. parts carrier offering unattended daily delivery services with real time visibility for regional dealers and wholesalers through its 12 locations across the southeastern United States. For more information on Cannon Express visit: www.cannonexpress.net
For more information contact:
Teena Medeiros
BCG Logistics Group
905-238-3444
www.bcglogistics.com
This acquisition reflects BCG Logistics’ strategy in Canada and the United States to offer its growing portfolio of international customers more services, efficiencies and a ‘One America Supply Chain Solution’.
Cannon will continue to operate as a separate company and using the Cannon Express brand under the auspices of Toronto-based BCG Logistics Group. In addition the existing Cannon management team will continue to report to Cannon President, Frank A. Cannon.
In this initial phase of the integration process, the Cannon team plans to leverage BCG Logistics’ technologies, such as its proprietary TMS “STARS” technology, to meet its customers growing demand for more information, new efficiencies and services. Both BCG Logistics Group and Cannon Express have focused their businesses on providing high quality regional solutions in the U.S. and Canadian markets, and BCG’s proprietary “STARS” Technology will contribute to Cannon’s reputation as a regional leader in the pre-8 a.m. delivery market.
“The acquisition of Cannon Express is consistent with BCG Logistics’ corporate strategy to expand its portfolio of services and increase its scope of customers and operations in North America,” says Allan Smith, President & CEO of BCG Logistics Group, adding: “The staff and current owners at Cannon are excited to be part of BCG’s future and we will be incorporating “STARS” into Cannon’s existing southeastern US customer base in the coming months. This is an important part of a strong, fully integrated partnership that will offer BCG Logistics Group’s clients an enhanced portfolio of trans border services. It’s our company’s strategy to support our customers’ distribution efforts across North America by leveraging one powerful and growing platform.”
About BCG Logistics Group
BCG Logistic Group is a technology-based 3PL, dedicating to developing and managing innovative distribution programs in Canada for its international client base as a full-service Canadian 3PL. Its portfolio of services includes: supply chain consulting, U.S. and Canadian transportation management, cross-dock operations (pre-8 a.m. parts distribution), freight audit and payment services. BCG Logistics is a complete service provider offering extensive experience in retail, automotive, agricultural and industrial distribution and sequencing for its diverse customer base, with locations across Canada that include: Toronto, ON; Branford, ON; Vancouver, BC; Edmonton, AB; Winnipeg, MB and in the Midwestern United States, Chicago, IL. BCG Logistics’ technical team has developed an innovative, customized, flexible and user-friendly TMS operating system, “STARS”, which offers complete visibility and accountability of customer supply chains. For more information on BCG Logistics visit: www.bcglogistics.com
About Cannon Express, LLC
Cannon is a full service asset-based pre-8 a.m. parts carrier offering unattended daily delivery services with real time visibility for regional dealers and wholesalers through its 12 locations across the southeastern United States. For more information on Cannon Express visit: www.cannonexpress.net
For more information contact:
Teena Medeiros
BCG Logistics Group
905-238-3444
www.bcglogistics.com
Manitoulin Transport Acquires LTL Division of Hi-Way 13
MISSISSAUGA, Ontario -- January 19, 2015 -- Manitoulin Transport announced today that it has purchased the less-than-truckload (LTL) division of Hi-Way 13, which is based in Camrose, AB. This is the second Alberta-based LTL acquisition for Manitoulin in four months.
Under the agreement, Manitoulin has acquired all Hi-Way 13 LTL division employees and related assets which include a modern fleet of trucks, tractors, dry and heated vans and a network of terminals in that province's cities of: Calgary, Edmonton, Provost, Wetaskiwin and Camrose.
Effective today, all freight will be handled under the Manitoulin Transport banner.
"There are three key reasons for this purchase," said Don Goodwill, president, Manitoulin Transport, in a press release. "First, Hi-Way 13 is a major player in a geographic pocket of Alberta that we want to have a stronger presence in. Second, their reputation for quality, customer service, and their stellar safety record are all characteristics Manitoulin holds dear. Third, like Manitoulin, Hi-Way 13 has built strong relationships with customers over several decades, which we greatly value and intend to build upon."
"In recent years Manitoulin has made numerous strategic acquisitions to meet the ever-changing needs of our customers," said Gord Smith, chief executive officer, Manitoulin Group of Companies, a press release. "Customers acquired in the past have been very pleased with the fact that they moved to a company that can provide comprehensive support for their supply chain through technology, a diverse range of equipment, the capacity to help them grow and expand into new areas, and the ability to manage their shipments to and from any place in the world. We believe Hi-Way 13 customers will feel the same way and will welcome the breadth of service Manitoulin can provide them."
About Manitoulin Transport
Manitoulin Transport is a North American transportation and logistics solutions provider. As a single-source carrier, it offers a wide array of transportation solutions, including; expedited less-than-truckload and truckload, transborder, intermodal, private fleet, guaranteed service, temperature-controlled, dangerous goods and supply chain management. Manitoulin leverages its extensive network to service major urban and rural areas. In North America, its distribution coverage consists of more than 60 Canadian terminals and 250 U.S. service centres. All these solutions are assisted by its technology that provides customers with 24 x 7 shipping information to manage and complete their supply chain processes.
Under the agreement, Manitoulin has acquired all Hi-Way 13 LTL division employees and related assets which include a modern fleet of trucks, tractors, dry and heated vans and a network of terminals in that province's cities of: Calgary, Edmonton, Provost, Wetaskiwin and Camrose.
Effective today, all freight will be handled under the Manitoulin Transport banner.
"There are three key reasons for this purchase," said Don Goodwill, president, Manitoulin Transport, in a press release. "First, Hi-Way 13 is a major player in a geographic pocket of Alberta that we want to have a stronger presence in. Second, their reputation for quality, customer service, and their stellar safety record are all characteristics Manitoulin holds dear. Third, like Manitoulin, Hi-Way 13 has built strong relationships with customers over several decades, which we greatly value and intend to build upon."
"In recent years Manitoulin has made numerous strategic acquisitions to meet the ever-changing needs of our customers," said Gord Smith, chief executive officer, Manitoulin Group of Companies, a press release. "Customers acquired in the past have been very pleased with the fact that they moved to a company that can provide comprehensive support for their supply chain through technology, a diverse range of equipment, the capacity to help them grow and expand into new areas, and the ability to manage their shipments to and from any place in the world. We believe Hi-Way 13 customers will feel the same way and will welcome the breadth of service Manitoulin can provide them."
About Manitoulin Transport
Manitoulin Transport is a North American transportation and logistics solutions provider. As a single-source carrier, it offers a wide array of transportation solutions, including; expedited less-than-truckload and truckload, transborder, intermodal, private fleet, guaranteed service, temperature-controlled, dangerous goods and supply chain management. Manitoulin leverages its extensive network to service major urban and rural areas. In North America, its distribution coverage consists of more than 60 Canadian terminals and 250 U.S. service centres. All these solutions are assisted by its technology that provides customers with 24 x 7 shipping information to manage and complete their supply chain processes.
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