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Share Name Share Symbol Market Type
Canadian National Railway Company TSX:CNR Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.03 0.02% 169.17 169.00 169.53 171.37 168.73 169.11 852,377 21:11:01

Canadian National Railway Expands Fleet On Expected Rebound in Grains

29/07/2022 7:26pm

Dow Jones News


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By Denny Jacob

 

Canadian National Railway Co. said Friday it is adding new high-capacity grain hopper cars to its fleet in preparation for a rebound in grain following levels impacted by a drought last year.

The rail and transportation company said it is adding 500 new covered hopper cars this year and will bring an additional 500 in early 2023. Through the remainder of 2023 and 2024, the company said it will take delivery of another 750 covered hoppers. Canadian National said the new cars can carry up to 15% more grain than less efficient legacy cars.

Canadian National said it will increase its active operating base in Western Canada and plans to hire over 500 new additional employees.

Chief Executive Tracy Robinson said the adjustments the company has made will enable the company to deliver strong results for Western Canadian agriculture.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

July 29, 2022 14:11 ET (18:11 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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