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11/2/2023
CN has acquired a stake in the Cape Breton & Central Nova Scotia Railway (CBNS) from Genesee & Wyoming Inc.
The acquisition includes 145 miles of track, CN officials said in a press release.
"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," said Patrick Lortie, CN's senior vice president and chief strategy officer. "It will also enable our network to reach new opportunities in the longer-term, further advancing our strategic agenda of accelerating profitable, sustainable growth."
In addition to acquiring a stake in CBNS — which interchanges with CN in Truro, Nova Scotia — the Class I will manage interline movements on the line. A G&W subsidiary will continue to operate the CBNS line from Truro to Point Tupper, Nova Scotia.
“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,” said Rick McLellan, president of G&W’s Canadian operations. “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.”