Acquisitions part of company plans to support traffic growth
MONTREAL—In what it’s calling a bid to support traffic growth, CN Rail announced plans to acquire more than 2,200 freight cars and 1,300 new containers in 2012.
CN’s largest rolling stock addition in 2012 is the acquisition of 600 premium 60-foot, double-door box cars for forest products, and metals traffic.
These higher payload cars help improve loading efficiency, according to the rail firm.
“CN is acquiring new freight cars and containers for a range of markets, including forest products, metals, minerals, coal, iron ore, steel, consumer goods, finished vehicles and grain,” CN executive vice-president and chief marketing officer Jean-Jacques Ruest said in a statement. “These fleet additions will help us grow in line with our customers’ demands and ensure CN has the right mix of modern, productive assets.”
CN’s other main 2012 fleet additions are: 1,300 containers for grocery and consumer goods; 558 high-capacity modern covered hoppers for grain exports; 317 multi-level cars for finished vehicles deliveries to major cities; 300 gondolas for coal exports; 232 new ore cars for pelletized iron ore produced in Minnesota to supply steel mills in the United States; and 200 multi-purpose box cars for the North American freight car pool.
“CN’s rolling stock acquisition strategy is responding to evolving market conditions and is intended to ensure reliable, predictable supply chains for our customers,” Ruest said.
Financial terms of the acquisitions were not disclosed.