June 29, 2007 02:21 ET
CN halts rail operations, embargoes all traffic in Toronto-Montreal corridor, following illegal blockade of rail line
MONTREAL, QUEBEC--(Marketwire - June 29, 2007) - CN (TSX:CNR) (NYSE:CNI) today halted freight operations and embargoed all traffic on its Toronto-Montreal main line after reportedly armed native protesters erected an illegal blockade on the company's tracks near the eastern Ontario town of Marysville, located approximately 10 miles east of Belleville, Ont.
CN obtained an injunction barring illegal occupation of the rail corridor when First Nations protesters blocked the line in April of this year. The Ontario Provincial Police (OPP) refused to enforce the order issued by Justice Campbell of the Ontario Superior Court at that time. First Nations protesters are again blocking CN's rail corridor and the OPP continues to refuse to intervene.
CN, in the interest of ensuring the safety of its employees and operations, will indefinitely halt all rail operations on its Montreal-Toronto main line, including VIA Rail passenger trains, until the company has received assurances that the OPP will remove protesters and guarantee such safety.
CN's Toronto-Montreal corridor is the busiest on its system, accommodating an average of 25 freight trains and 22 VIA Rail trains on a daily basis. VIA Rail yesterday cancelled passenger service in the corridor for June 29.
CN - Canadian National Railway Company - 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 cities 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. For more information on CN, visit the company's website at www.cn.ca.
This news release contains forward-looking statements. CN cautions that, by their nature, forward-looking statements involve risk and uncertainties, including the assumption that, while CN expects a moderate slowdown in the North American economy in the near term, positive economic conditions in North America and globally will continue, and that its results could differ materially from those expressed or implied in such statements. Important factors that could cause such differences include, but are not limited to, industry competition, legislative and/or regulatory developments, compliance with environmental laws and regulations, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, the effects of adverse general economic and business conditions, inflation, currency fluctuations, changes in fuel prices, labour disruptions, environmental claims, investigations or proceedings, other types of claims and litigation, 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 CN's most recent Form 40-F filed with the United States Securities and Exchange Commission, its Annual Information Form filed with the Canadian securities regulators, and its 2006 Annual Consolidated Financial Statements and Notes thereto and Management's Discussion and Analysis (MD&A), for a summary of major risks.
www.cn.ca