by Zacks Equity Research
December 31, 2012 | Comments : 0 Recommended this article: (0)
CNI | CP
Canadian National Railway Company (CNI - Analyst Report) entered into a labor contract with the International Brotherhood of Electrical Workers (IBEW) System Council 11. Per the tentative agreement, the council will renew the contracts of about 700 signals and communications workers of the company in Canada.
However, none of the parties disclosed the details of the agreement as it is pending necessary approvals by the members of the union. The current contract between the parties will come to an end on December 31, 2012. Canadian National Railway expects to receive the approval of the union through voting before the end of January 2013.
Based in Montreal, Canadian National Railway is engaged in the rail and related transportation business and operates as the largest rail network in Canada. It is the only transcontinental network in North America.