CALGARY, Alberta, March 27, 2023 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI), Trealmont Transport Inc. (Montship Inc.) and Kaptan US LLC are pleased to announce they have reached an agreement to develop a multimodal transload facility located in CN's Calgary Logistics Park. The new facility is planned to be operational in the third quarter of 2024.
Kaptan and Trealmont Transport Inc. (Montship Inc.) have agreed to purchase land located within CN's Calgary Logistics Park and will build a logistics facility designed for transloading intermodal containers originating and departing from the ports of Prince Rupert and Vancouver. The logistics facility will transform the supply chain tied to transpacific trade by redesigning the flows to an all-rail transload model positioned inland through Calgary. It will provide rail access with seamless transload of imports to domestic containers and a direct connection for Western Canadian commodities to reload exports. The facility will be equipped with a multicommodity crossdock, warehouse, container yard for storage and rail spur connected directly to the facility all within CN's Intermodal logistics park.
"We view Calgary as the next frontier in the transload market. It is ideally suited to serve both west coast gateways (Vancouver and Prince Rupert) and will offer significant advantages to both import and export customers. Teaming up with CN and their unmatched network is a unique opportunity for us. We look forward to working with stakeholders to deliver the benefits this project will present".
- Brian McDonald, Chairman and CEO, Montship Inc.
"We are extremely happy to partner with Montship and Kaptan and welcome them to CN's Logistics Park in Calgary. This new facility will provide value to our customers and the regional economy by leveraging CN's robust network and two options to Asian markets via the Ports of Vancouver and Prince Rupert. This facility will serve both importers to Central Canada and the US Midwest as well as Canadian exporters with direct rail service all located inside CN's Calgary Logistics Park."
- Dan Bresolin, Vice-President, Intermodal, CN
Calgary, the primary center for distribution in Western Canada, provides the ideal location for transloading imports to 53' Domestic containers for furtherance inland and reloading 40's containers with abundant export commodities. By utilizing the inland transload model, steamship lines benefit from fully balancing their containers, while assisting beneficial cargo owners with minimal congestion and eliminating costly West Coast labor and trucking to /from the ports. The model will create reliable and future capacity to grow. The movement of freight by rail instead of trucks lowers greenhouse gas emissions by up to 75%, providing a more sustainable solution, while enhancing fluidity in the supply chain.
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. As the only railroad connecting Canada's Eastern and Western coasts with the U.S. South through a 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.
About Kaptan
Kaptan industrial logistics connects foreign trade in the Americas by providing logistics solutions that adapt to our customers' challenges. Kaptan operates in 9 countries in the Americas, offering tailor-made solutions within our various business lines. Portfolio of services include container terminal services; logistics and distribution; warehousing and transloading; air cargo; mining logistics, and industrial services. Throughout its history, Kaptan has been committed to providing efficient and safe services, being responsible custodians of the environment, and supporting the communities we work in.
About Montship
Established in 1925, Montship Inc. (Division of Trealmont Transport Inc) is the largest Steamship agency in Canada. With offices in 7 provinces, offering liner agency; ship agency; logistics; reefer repair and trucking, we are well situated to cater to the needs of any shipper.
Forward-Looking Statements
Certain statements included in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management's assessment and assumptions and publicly available information with respect to CN. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN 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. Forward-looking statements may be identified by the use of terminology such as "believes," "expects," "anticipates," "assumes," "outlook," "plans," "targets", or other similar words.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, general economic and business conditions, including factors impacting global supply chains such as pandemics and geopolitical conflicts and tensions; 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; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management's Discussion and Analysis (MD&A) in CN's annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN's website, for a description of major risk factors relating to CN.
Forward-looking statements reflect information as of the date on which they are made. 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 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 matters, or any other forward-looking statement.
Contacts:
| Media | Investment Community |
| Jonathan Abecassis | Paul Butcher |
| Senior Manager | Vice-President |
| Media Relations | Investor Relations |
| (438) 455-3692 media@cn.ca | (514) 399-0052 investor.relations@cn.ca |
