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5/26/2004



Rail News: Rail Industry Trends

Aiming lower: CN seeks operating ratio below 65 as part of five-year plan



Canadian National Railway Co. already has the lowest operating ratio among the six largest Class Is and the only ratio in the 60s. But the railroad plans to lower its ratio even more — from the upper 60s to below 65 — as part of a five-year "new corporate vision" plan outlined yesterday by President and Chief Executive Officer E. Hunter Harrison.

CN plans to gain enough market share and improve pricing to generate $8 billion in annual revenue by 2009; increase earnings per share between 8 percent and 12 percent annually during the next five years; and achieve the new operating ratio goal by 2009.

"My vision is to make CN not just the best-performing railroad in North America, but the continent's best-performing transportation company," said Harrison in a prepared statement. "Our goal is to extract even greater benefits from our innovative scheduled railroading practices, and to accelerate our relentless drive to push change and innovation throughout the organization."


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