Acquisition of a Stake in Cape Breton & Central Nova Scotia Railway (CBNS) is Focused on Consolidation and Long-Term Growth Opportunities

MONTREAL, Nov. 01, 2023 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today announced that it acquired from Genesee & Wyoming Inc., a stake in the Cape Breton & Central Nova Scotia Railway that includes 145 miles of active track.

“We are proud to be partnering with Genesee & Wyoming to serve existing customers on this line. This partnership will further reinforce CN’s presence in eastern Canada where we believe there will be a growing role to play in the competitiveness of North American trade. It will also enable our network to reach new opportunities in the longer-term, further advancing our strategic agenda of accelerating profitable, sustainable growth.”

• Patrick Lortie, Senior Vice-President and Chief Strategy Officer at CN
  

The CBNS railway, which interchanges with CN’s mainline at Truro, Nova Scotia, will continue to be operated by a Genesee & Wyoming Inc. subsidiary. This will ensure a seamless, safe, and efficient continuation of service for customers.

About CN
CN is a world-class transportation leader and trade enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. CN’s network connects Canada’s Eastern and Western coasts with the U.S. South through an 18,600-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

CN Forward-looking Statements
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