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CN proposes binding arbitration to reach contract settlement
MONTREAL, March 20, 2014—CN said Thursday it has proposed binding arbitration to reach a contract settlement with the Teamsters Canada Rail Conference - Conductors, Trainpersons and Yardpersons (TCRC-CTY) after the union advised that the tentative labour agreement negotiated with CN on Feb. 5, 2014, failed to ratify.
This is the second tentative contract that the TCRC-CTY has not ratified this year.
The TCRC-CTY represents approximately 3,000 CN train conductors, trainpersons, yardpersons and traffic coordinators on CN's network in Canada.
Claude Mongeau, CN president and chief executive officer, said: "We are disappointed that our tentative agreement with the TCRC-CTY narrowly failed ratification following extensive negotiations with the union's bargaining committee.
CN transports approximately $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 and Prince Rupert in 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.
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.