Canadian National 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.
From a Canadian National press release. For more information, go to cn.ca
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