CN (TSX: CNR) (NYSE:CNI) said new supply chain efficiencies have reduced dwell times for European import vehicles handled by CN’s Autoport Terminal in Halifax by approximately 25 per cent since implementation last spring.
The Autoport facility – one of the largest import vehicle processing facilities in North America – receives vehicles from ocean-going vessels and transfers them to rail cars for distribution across inland CN Autoport facilities in Canada.
Jean-Jacques Ruest, CN executive vice-president and chief marketing officer, said: “CN Autoport undertook a comprehensive review of supply chain steps to reduce port dwell times and adopted a transit time approach from ship discharge to dealer delivery via our 10 major automotive facilities in Canada. These new processes now help us get our customers’ vehicles to market more quickly.”
Kevin Agnew, managing director of the Importers Transport Council representing automakers BMW, Volvo, Land Rover, Jaguar, Subaru and Suzuki, said: “CN Autoport services have helped our member companies improve the consistency and speed of delivery of vehicles to their Canadian dealer networks.”
Al Dunn, purchasing manager of Ford Export & Global Growth Operations, said: “We have selected CN Autoport at Halifax to handle our new Transit Connect (compact panel van) for distribution through Canada because of the port’s ideal location for reaching the Canadian market, CN’s rail network throughout Canada, and Autoport’s reputation for quality and its efficiency in processing vehicles.”
Ruest said: “CN is committed to supply chain innovation to help make our automotive customers more competitive and succeed in their markets. CN is working with its partners to become part of a world-class supply chain.”
CN Autoport offers a range of services through 15 processing facilities across Canada and the United States. CN handles imported vehicles through the ports of Halifax and Vancouver.
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. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results of performance of the Company or the rail industry to be materially different from the outlook or any future results or performance implied by such statements. Important 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 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.
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 maters, or any other forward-looking statement.
CN – Canadian National Railway Company and its operating railway subsidiaries – spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, St. Louis, and Jackson, Miss., with connections to all points in North America.
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|Investment CommunityRobert Noorigian