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CN and Watco Reach Agreement on Sale of Rail Lines

CN and Watco Reach Agreement on Sale of Rail Lines

Northern Ontario, Wisconsin, and Michigan

SAULT STE MARIE, ONTARIO   ~~~~~~~~  March 30, 2021  (LSN)  GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) and Watco are pleased to announce that they have reached an agreement for the sale of non-core lines and assets on the Soo subdivision (approximately 250 miles of track) that runs from Sault Ste. Marie, Ontario to Oba, Ontario and approximately 650 miles of branch lines of Wisconsin Central Ltd. in Wisconsin and Michigan. This marks the successful conclusion of the sale process that CN announced and launched in July of 2020.

In Ontario, Watco will continue freight operations as well as the Agawa Canyon Train Tour. Watco has also signed a Memorandum of Understanding with the Missanabie Cree First Nation regarding partnership opportunities for the Algoma Central Railway (ACR).

In both the United States and Ontario, CN will continue to play a central role as the transferred segments will remain connected to CN’s tri-coastal network, safely and reliably linking businesses to markets around the world.

The terms of the agreement were not disclosed and the acquisition of the rail lines in the United States is subject to regulatory authorization by the Surface Transportation Board.

CN 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. By their nature, 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. 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 the actual results or performance of the Company to be materially different from the outlook or any future results or performance implied by such statements. 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 and available on CN’s website, for a description of major risk factors.

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 19,500-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 Watco
Watco is a leading service and logistics company providing transportation, mechanical repairs and maintenance, material handling and warehousing, and logistics solutions for customers throughout North America and Australia. Watco is one of the largest short line railroad holding companies in the U.S. with more than 5,000 miles of track. Through its 40-year history, Watco has grown to be a leader in the railroad industry through exceptional customer service, improved safety and a strong commitment to its’ public and private partners. Watco controlled railroads currently operate over 600 miles of track within the state of Wisconsin. For more information on Watco, visit watco.com.

#LSN_SSM  #LSN_Econ  #LSN_WiscNews #LSN_MiNews

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Latest Public Safety News

ESCAPED 13 YEAR OLD SOUTHERN ONTARIO DRUG DEALER ARRESTED 25 September 2021

ESCAPED 13 YEAR OLD SOUTHERN ONTARIO DRUG DEALER ARRESTED

BY THUNDER BAY POLICE

THUNDER BAY, ONTARIO  ~~  September 25, 2021  (LSNews) TEENAGER CAUGHT WITH FENTANYL, PERCOCETS & METHAMPHETAMINE

Hardworking Thunder Bay Police Officers arrested a black teenage drug dealer yesterday, Friday September 24,2021.

TBPS MEDIA RELATIONS COORDINATOR SCOTT PARADIS NOT BEING TRANSPARENT WITH THE PUBLIC AGAIN 

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WESTFORT RESIDENTS BEWARE 25 September 2021

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Have Sword will Steal

THUNDER BAY, ONTARIO  ~~  September 25, 2021 (LSNews) TBPS OFFICERS ARE ACTIVELY SEARCHING FOR BRAD SEGUIN THIS MORNING

SEGUIN HAS BEEN SPOTTED GOING THROUGH RESIDENTIAL BACK YARDS THIS MORNING, SATURDAY SEPTEMBER 25,2021 LOOKING FOR THINGS TO STEAL.

#LSN_Crime #LSNews_TBay #LSN_TBPS #LSN_TBayCourthouse

WOMAN ARRESTED  WITH FENTANYL WHO IS BANNED FROM TOWN 25 September 2021

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FORT FRANCES OPP

FORT FRANCES, ONTARIO  ~ September 25, 2021 (LSNews)    Hardworking Fort Frances OPP Officers spotted a woman who is banned from town yesterday, Friday September 24,2021.

A 38 year old LINDSAY COPENACE was spotted near the Nugget Motel when she has several court ordered conditions to not be near there or in Fort Frances.

#LSN_Crime  #LSN_DrugBust  #LSN_OPP  #LSN_TBayCourthouse

TBPS ARREST STABBER THIS MORNING 24 September 2021

TBPS ARREST STABBER THIS MORNING

Man Stabbed on McIntyre Street

THUNDER BAY, ONTARIO   ~~   September 24, 2021 (LSNews)  ~ Hardworking Thunder Bay Police Officers responded to a stabbing call early this morning, Friday September 24,2021 on McIntyre Street to find a man bleeding from a knife wound.

Paramedics arrived to take male to hospital to be treated for his knife wound.

#LSN_Crime #LSNews_TBay #LSN_TBPS #LSN_TBayCourthouse

TBPS MAKE ARREST IN SOCIAL HOUSING ARSON 24 September 2021

TBPS MAKE ARREST IN SOCIAL HOUSING ARSON

Westfort Ward Spence Court Amelia Street

THUNDER BAY, ONTARIO   ~`  September 24, 2021  (LSNews)  A fire was started in an apartment at Thunder Bay Social Housing at 230 Amelia Street West on September 2,2021.

Hardworking Thunder Bay Police & Fire Rescue arrived to investigate & extinguish the fire.

The fire was determined to be arson.

#LSN_Crime #LSNews_TBay #LSN_TBPS #LSN_TBayCourthouse

TBPS ARREST SENIOR SEX OFFENDER AGAIN 24 September 2021

TBPS ARREST SENIOR SEX OFFENDER AGAIN

COURTS RELEASE SEX OFFENDER ON $300 NO DEPOSIT BAIL

THUNDER BAY, ONTARIO ~~~~~~~ September 24, 2021 (LSNews)    Hardworking Thunder Bay Police Officers arrested a Registered Sex Offender early this morning, Friday September 24,2021 who was in breach of his release order with curfew of 10pm to 7am.

A 79 year old GARY ALBERT FROWEN was criminally charged with:

-breach of release order

#LSN_Crime #LSNews_TBay  #LSN_SexOffender #LSN_TBPS #LSN_TBayCourthouse

Justice Centre gives Ontario final warning over vax passports 23 September 2021

Justice Centre gives Ontario final warning over vax passports

NORTHERN, ONTARIO  ~~~~~~~   September 23, 2021  (LSNews)  The Justice Centre for Constitutional Freedoms has issued a legal warning letter to the Ontario Government on behalf of four clients demanding the vaccine passport mandate be revoked immediately. The law requires Ontarians as young as 12 to provide proof of two doses of the Covid mRNA vaccination as of September 22, 2021, or be denied access to a wide range of businesses and organizations, including field trips to city facilities. The Justice Centre has notified the Province that it will file a legal action should Ontario fail to halt its unconstitutional discrimination against those who have not yet chosen to receive the experimental vaccines.

#LSN_PublicSafety  #LSN_Health  #LSNews_TBay

DRUNK DRIVER HITS INTERCITY LCBO 23 September 2021

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Thunder Centre

THUNDER BAY, ONTARIO ~~~~~~~  September 23, 2021 (LSNews)  Inside Edition sources are indicating that the LCBO located at 969 Fort William Road was struck by a drunk driver in a yellow Camaro this afternoon, Wednesday September 22,2021 around 2:30pm.

#LSN_Crime #LSNews_TBay #LSN_TBPS #LSN_TBayCourthouse

THUNDER BAY POLICE ARREST DRUG DEALER AFTER OVERDOSE DEATH 22 September 2021

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#LSN_Crime #LSNews_TBay #LSN_TBPS #LSN_DrugBust #LSN_TBayCourthouse

TORONTO DRUG DEALER ON BAIL BUSTED BY TBPS OFFICERS. 22 September 2021

TORONTO DRUG DEALER ON BAIL BUSTED BY TBPS OFFICERS.

THUNDER BAY, ONTARIO  ~~~~~~~ September 22, 2021  (LSNews)  Hardworking Thunder Bay Police Officers have been busy monitoring all the trap houses in Thunder Bay & yesterday, Tuesday, September 21, 2021 they executed a search warrant at a home in the 100 block of Secord Street before 6pm.

A black male attempted to run from TBPS Officers but didn’t get very far. He put up a struggle while being arrested.

#LSN_Crime #LSNews_TBay #LSN_TBPS #LSN_TBayCourthouse #LSN_DrugBust 

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