CN Announces Partnership for New Logistics Park in Alabama
MONTREAL, Dec. 16, 2020 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) is pleased to announce that, in collaboration with Alabama Export Railroad, and Ray-Mont Logistics, it is launching the first phase of a new, innovative, high-tech logistics park in Mobile, AL. expected to open in late 2021. The first phase of the project will be a facility for bagging and containerizing plastic pellets. This terminal will include two bagging lines with an annual capacity of 25,000 Twenty-Foot Equivalent Units.
Strategically located in Mobile, the facility will provide customers with extensive export capacity to access Asian, Latin American, and European markets without warehousing costs or requiring double handling. This collaboration between CN, Alabama Export Railroad, a wholly owned subsidiary of Mississippi Export Railroad, and Ray-Mont Logistics will offer shippers an alternative solution to maintain a steady supply chain and to get their products to global markets from the Port of Mobile.
“With this new project CN is committed to enabling growth and success for our partners and our customers. CN is once again using the strength of its unique tri-coastal network, and close collaboration with its supply chain partners, to help customers win in their markets. This logistics park will service customers across our network and the first phase will specifically serve the demand for bagging and stuffing plastic resin containers which is on the rise in the US.”
- James Cairns, Senior Vice President, Rail Centric Supply Chain at CN
“Alabama Export Railroad is pleased to announce its role in the development of a new resin bagging and export facility in Mobile. Along with our core partners Canadian National and Ray-Mont Logistics, we believe this project represents the first step toward the establishment of a multi-commodity logistics hub, which will serve producers and global markets for decades to come. Our interest in pursuing this intermodal opportunity is due in part to the continued federal and state investments at the Port of Mobile, as well as the recent announcement of additional container capacity at APM Terminals.”
- Kate C. Luce, President & CEO – Alabama Export Railroad
“With our nearly 30 years of transloading & logistics expertise, Ray-Mont Logistics is proud to partner with Alabama Export Railroad and CN to establish this multi-commodity intermodal logistic platform. Mobile is emerging as a key gateway in the Gulf of Mexico, which will complement our existing, strategically located, facilities throughout North America. Thanks to the collaboration of our industry partners and stakeholders, this facility offers exporters innovated logistics solutions to accommodate the growing demands of the global marketplace.”
- Stephen Paul, Vice President of Supply Chain Logistics at Ray-Mont Logistic
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.
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 Southern tip of the U.S. 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.
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