CN to buy 1,500 grain hopper cars
- July 22, 2020
CN says the new railcars will help it continue to meet the growing needs of grain farmers and grain customers.
“This investment, combined with our 2020 $2.9 billion capital investment program, will help us move more grain,” said J.J. Ruest, president and CEO at CN. “We are confident in the future of the grain business and its key role in CN’s long-term growth. By investing in the construction of these new cars, we want to help quickly stimulate the North American economy by supporting manufacturing and agriculture related jobs.”
CN’s Canadian grain movements have been strong month after month, and these new higher-capacity hopper cars will fuel growth in this key sector of the North American economy.
“By purchasing new hopper cars for the second time in two years, we are continuing to deliver on our commitment to grain farmers, grain customers and the overall supply chain to expand our collective capacity through fleet renewal,” said James Cairns, senior vice president, Rail Centric Supply Chain, CN. “Through this investment, we will be able to support and expand our movements of grain to international markets as demand continues to increase.”