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By La Société - October 09, 08 at 21:43 DULUTH, Minn., Oct. 9, 2008 — CN (TSX: CNR)(NYSE: CNI) announced today the acquisition of 232 rapid-discharge ore cars and refurbishment of 500 existing ore cars as part of a long-term plan to upgrade the company’s car fleet for transporting pelletized iron ore produced in the Upper Midwest. Delivery of the new ore cars will start in January 2009, permitting the retirement of the same number of older cars. The refurbishment of 500 existing ore cars is underway and includes the installation of new trucks and couplers, modernizing the braking system and repairing outlet gates. CN’s existing iron-ore fleet consists of almost 2,200 cars. CN foresees acquiring more new iron ore cars over the next three to five years and refurbishing another 500 cars next year. In the years ahead the new cars... [read full story]
