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CN Announces Strategic Acquisition from CSX in New York

[ September 4, 2019   //   ]

CN announced the signing of an agreement that will see CN acquire
the Massena rail line from CSX, which represents more than 220 miles of
track between Valleyfield (Quebec), in Canada, and Woodard (New York),
in the U.S. The Massena rail line also serves many cities in the
province of Quebec, including Beauharnois and Huntingdon, and in the
state of New York, including Massena, Norwood, Potsdam, and Gouverneur.

“CN is excited to be expanding its reach in New York. With this
acquisition from CSX, we are opening up new opportunities for our
existing customers and local businesses who will be able to access new
markets through CN’s unique three coasts network,” said JJ Ruest,
president and chief executive officer at CN. “By acquiring the Massena
rail line, CN continues to expand our network and foster additional
supply chain solutions. CN is pleased to welcome communities along the
Massena rail line to its family and we look forward to meeting our new
neighbors.”

Separately, on August 8, 2019, CN and CSX announced a new intermodal
service offering between CN’s greater Montreal & Southern Ontario
network, and the CSX-served ports of Philadelphia, New York, New Jersey
and the New York City metropolitan area. This agreement will come into
effect on October 7, 2019 and will help move freight from trucks to
rail, reducing congestion in New York in a sustainable manner.

The terms of the deal were not disclosed and the acquisition is subject
to regulatory review.