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CN Rail to spend C$250 million on new hub

PRESS RELEASE

March 17, 2015: Canadian National rail (CN) announced today a plan to build a C$250-million intermodal and logistics hub adjacent to its main line in the Town of Milton, Ont., located approximately 30 miles west of Toronto. Milton has ready access to major highways reaching key industrial and commercial areas in the Greater Toronto and Hamilton Area (GTHA).

Claude Mongeau, CN president and chief executive officer, said: "CN's advanced intermodal and logistics facility in Milton will help us efficiently handle growing intermodal traffic. The new hub will benefit our customers and the regional economy by improving central Canada's access to the key transborder market as well as the Pacific and Atlantic coast trade gateways we serve, generating new supply chain efficiencies in the GTHA, and creating well-paying local jobs."

CN's intermodal business -- principally containerized international and domestic cargo moving in cooperation with trucks and ocean-going ships -- is one of the company's fastest growing business segments and its largest single business unit with 2014 revenues of more than C$2.7 billion.

The new Milton facility will complement Brampton Intermodal Terminal (BIT), CN's existing Toronto-area intermodal terminal in Brampton, Ont. BIT, which is nearing capacity, but will continue to operate for the long term.

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