Decision binding on company and union, achieving contractual certainty
between the parties
MONTREAL, June 20, 2014 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI)
announced today that it has received -- and will begin to implement
immediately -- Arbitrator Michel Picher's decision setting the terms
and conditions of a new three-year collective agreement between CN and
the Teamsters Canada Rail Conference - Conductors, Trainpersons and
Yardpersons (TCRC-CTY). The arbitration ruling is binding on both
parties and concludes the voluntary mediation/arbitration process that
the company and union agreed to on March 22, 2014.
The TCRC-CTY represents approximately 3,000 CN train conductors,
trainpersons, yardpersons and traffic coordinators on CN's network in
Canada.
Work rule changes are effective immediately. The decision provides for
general wages increases as follows: three per cent retroactive to July
23, 2013; three per cent effective July 23, 2014, and three per cent
effective July 23, 2015, which are in line with general wage and
benefits provisions in recent settlements between CN and its other
unions. Benefit improvements will take effect on July 1, 2014.
Jim Vena, CN executive vice-president and chief operating officer, said:
"CN is pleased that the arbitration process is finished and that the
parties have contractual certainty -- this is good news for our
customers and the Canadian economy.
"The award paves the way for the introduction of scheduling for
conductors in Western Canada, an approach we believe will help to
address manpower availability and promote greater work-life balance."
CN (TSX: CNR) (NYSE: CNI) is a true backbone of the economy,
transporting approximately C$250 billion worth of goods annually for a
wide range of business sectors, ranging from resource products to
manufactured products to consumer goods, across a rail network spanning
Canada and mid-America. CN - Canadian National Railway Company, along
with its operating railway subsidiaries -- serves the cities and ports
of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and
Mobile, Ala., and the metropolitan areas of Toronto, Edmonton,
Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior,
Wis., and Jackson, Miss., with connections to all points in North
America. For more information on CN, visit the company's website at www.cn.ca.
Forward-Looking Statements
Certain information included in this news release is "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and under Canadian securities laws. CN
cautions that, by their nature, these forward-looking statements
involve risks, uncertainties and assumptions. The Company 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. Such forward-looking
statements are not guarantees of future performance and involve known
and unknown risks, uncertainties and other factors which may cause the
actual results or performance of the Company or the rail industry to be
materially different from the outlook or any future results or
performance implied by such statements.
Important risk factors that could affect the forward-looking statements
include, but are not limited to, the effects of general economic and
business conditions, 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, various events which could disrupt
operations, including natural events such as severe weather, droughts,
floods and earthquakes, labor negotiations and disruptions,
environmental claims, uncertainties of investigations, proceedings or
other types of claims and litigation, risks and liabilities arising
from derailments, and other risks detailed from time to time in reports
filed by CN with securities regulators in Canada and the United States.
Reference should be made to "Management's Discussion and Analysis" in
CN's annual and interim reports, Annual Information Form and Form 40-F
filed with Canadian and U.S. securities regulators, available on CN's
website, for a summary of major risks.
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 Canadian 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.
SOURCE CN
