CN and G&W Forge have announced a new partnership with CBNS. This collaboration will bring together the expertise and resources of all three companies to deliver exceptional results. The partnership will enable CN and G&W Forge to expand their capabilities and provide even better service to their customers. CBNS is a trusted partner in the industry, and this partnership will enhance their position as a leading provider of high-quality products and services. Together, CN, G&W Forge, and CBNS will work towards achieving their shared goals of excellence, innovation, and customer satisfaction. We look forward to the exciting opportunities that this partnership will bring.
Genesee & Wyoming Inc. has recently formed a strategic partnership with CN, a major Class I railway, to enhance their operations in eastern Canada. As part of this partnership, CN will acquire a stake in G&W's Cape Breton & Central Nova Scotia Railway (CBNS) and take charge of managing interline customer movements along 145 route-miles.
Details of the Partnership
The CBNS line, stretching from Truro to Point Tupper in Nova Scotia, will continue to be operated by a G&W subsidiary. This collaboration will allow CN to strengthen its presence in eastern Canada and contribute to the competitiveness of North American trade. Additionally, it will provide CN with access to new opportunities for long-term growth, aligning with their strategic agenda of achieving profitable and sustainable expansion.
Statements from Key Executives
Patrick Lortie, Senior Vice President and Chief Strategy Officer at CN, expressed his satisfaction with the partnership, stating, "We are proud to be partnering with Genesee & Wyoming to serve existing customers on this line. This partnership will further reinforce CN's presence in eastern Canada, where we believe there will be a growing role to play in the competitiveness of North American trade. It will also enable our network to reach new opportunities in the longer term, further advancing our strategic agenda of accelerating profitable, sustainable growth."
Rick McLellan, President of G&W's Canadian operations, highlighted the advantages of this collaboration, saying, "This partnership fully leverages the expertise of both a local, first- and last-mile railroad and a Class I railway that is part of the broader North American freight-rail network. As G&W and CN work together to enhance service for rail-served industries in the Nova Scotia region, customers can continue to rely on the safe and efficient transportation service they have received for more than a decade."
Transaction Details
The terms of the transaction between Genesee & Wyoming and CN have not been disclosed. However, this partnership is seen as a significant step towards improving rail services in the region and fostering economic growth. The involvement of Northborne Partners as financial advisor and McInnes Cooper as legal counsel highlights the meticulous approach taken by both companies in finalizing this agreement.
Benefits and Outlook
With this strategic partnership, Genesee & Wyoming and CN are poised to create a strong alliance that combines local expertise with the extensive reach of a major railway network. This collaboration will not only benefit existing customers but also open up new avenues for growth and development in the Nova Scotia region.
Summary
The commitment to delivering safe and efficient transportation services remains at the forefront of this partnership, ensuring continued success for all stakeholders involved.
(This article is sourced from railwayage and curated by Thetransporteronline24)
