CNR Canadian National Railway Company

Target Steel, the facility’s first customer, will convert a large part of their traffic from trucks to rail for steel coils. This resulting streamlining of operations and removal of a substantial number of heavy weight trucks off highways, is expected to reduce related greenhouse gas emissions by up to 75%.

“We are excited to open this state-of-the-art facility in Flat Rock. It is a testament to CN’s commitment to sustainable logistics solutions. This facility exemplifies our dedication to innovation, growth and environmental stewardship to power the economy.”

- Helen Quirke, Vice-President, Supply Chain and Business Development, CN

"Target Steel is thrilled to embark on this transformative journey alongside CN as we expand our automotive manufacturing capabilities. The addition of CN's transload facility in Flat Rock symbolizes not just a logistical solution, but a testament to the partnership and creativity between our companies. Together, we're not just moving steel; we're forging connections, driving innovation, and propelling the automotive industry forward with unparalleled efficiency and reliability."

- Michael Simone, Vice-President, Target Steel Inc.

“This project was a perfect fit for our Freight Economic Development Program, which covers up to 50 percent of the costs of a rail project that will improve access to the state’s rail system and keep our economy moving by increasing rail volumes. This grant will help CN’s customer gain access to the rail system, ensuring rail is a viable option for the movement of their goods."

- Peter Anastor, Director, Michigan Department of Transportation Office of Rail

Spanning 20,000 square feet, the Flat Rock facility is designed specifically for inbound train operations. Equipped with a 50-ton overhead crane and a 10-car track capable of receiving covered gondolas transporting steel coils, it will facilitate seamless transfer of coils from rail to truck, streamlining the distribution process.

CN Forward-Looking Statements Certain statements by CN 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, including relating to CN’s environmental, social and governance (ESG) strategies and targets, including CN’s climate goals and sustainability commitments. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN 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 reflect information as of the date on which they are made. 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 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.

About CNCN 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. CN's network connects Canada’s Eastern and Western coasts with the U.S. South through an 18,800-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 Target Steel Inc. Target Steel is a leading family-owned metals service center founded in 1988 and dedicated to serving the automotive industry across North America. With seven strategically located facilities, a private fleet of steel haulers, and 38 pieces of advanced metals processing equipment including slitters, blanking lines, and laser blanking lines, we ensure prompt delivery and superior quality products tailored to our customers’ exact specifications. Our A2LA-accredited lab guarantees the integrity and compliance of our materials, providing clients with unmatched reliability and confidence in every purchase. Target’s mission is to empower the next generation through education and mentorship while maintaining our unwavering commitment to excellence and trust in automotive.

Contacts:

Grafico Azioni Canadian National Railway (TSX:CNR)
Storico
Da Ott 2024 a Nov 2024

Grafico Azioni Canadian National Railway (TSX:CNR)
Storico
Da Nov 2023 a Nov 2024