CN announces multiyear agreement with GM

CN reports C$13.8bn in revenues for the full year 2020, showing a 7% decrease Y-o-Y, while operating income decreased by 15%, to C$4.8bn.

Canadian National (CN) has announced that it has formed a multiyear agreement with General Motors (GM) for the transportation of finished vehicles and assembly parts. GM will also be the first customer to use CN’s new automotive compounds in Vancouver and in Minneapolis.

The CN Vancouver automotive compound construction is now completed, and GM will be the first tenant by October of 2019. The Minneapolis automotive compound construction is expected to be completed in late 2020, with GM operations at the site commencing in 2021. CN is now adding two new Autoport terminals to its North American network. Both compounds will provide additional capacity, vehicle throughput and deliveries for GM and its customers throughout the northern Midwest and British Columbia.

Keith Reardon, Senior Vice President, Consumer Product Supply Chain said “CN remains focused on growth and on enabling its customers’ business through strategic infrastructure investment in new metropolitan markets. Part of CN’s growth is tied to the consumer’s economy and we are proud to be a major logistics provider for such a key North American manufacturer.”

Source: CN