CN today completed its $1 billion BC Rail transaction with the British Columbia government.
 
CN will now commence the step-by-step integration of BC Rail into its North American system.
 
CN, which received regulatory clearance to complete the transaction on 2 Jul 2004, is acquiring BC Rail Ltd. and the BC Rail Partnership (collectively BC Rail), and the right to operate over BC Rail's roadbed under a long-term lease.
 
E. Hunter Harrison, president and chief executive officer of CN, said, "We are very pleased to close this important transaction. We will now move forward with our plan to deliver better service and improved transit times to BC Rail shippers."
 
Information on the CN's partnership with BC Rail is available at www.cn.ca/BCRailpartnership (link fails 20 Jan 2020).
 
Author unknown.