CN To Purchase 1,500 New Hopper Railcars

Aug 10, 2020 - 5 years ago

CN (TSX: CNR) (NYSE: CNI) has announced that it plans to acquire 1,500 new generation, high-capacity, grain hopper cars with delivery starting in January of 2021. These new railcars will encourage the economic recovery through job creation in the North American manufacturing sector and help CN continue to meet the growing needs of grain farmers and grain customers.
“This investment, combined with our 2020 $2.9B capital investment program, will help us move more grain. We are confident in the future of the grain business and its key role in CN’s long-term growth. By investing in the construction of these new cars, we want to help quickly stimulate the North American economy by supporting manufacturing and agriculture related jobs,” said JJ Ruest, President and Chief Executive Officer, CN.
“CN’s Canadian grain movements continue to break records, month after month, and these new higher-capacity hopper cars will help perpetuate our growth in this key sector of the North American economy. By purchasing new hopper cars for the second time in two years, we are continuing to deliver on our commitment to grain farmers, grain customers and the overall supply chain to expand our collective capacity through fleet renewal. Through this investment, we will be able to support and expand our movements of grain to international markets as demand continues to increase,” James Cairns, Senior Vice-President, Rail Centric Supply Chain, CN.