Viterra Inc.
TSX : VT
ASX : VTA

Viterra Inc.
Canadian National Railway
TSX : CNR
NYSE : CNI

Canadian National Railway

December 19, 2011 16:00 ET

Viterra and CN Sign New Service Agreement

CALGARY, ALBERTA--(Marketwire - Dec. 19, 2011) - Viterra Inc. (TSX:VT) (ASX:VTA) ("Viterra") and Canadian National Railway (TSX:CNR) (NYSE:CNI) ("CN") announced today that they have signed a new service improvement agreement, which will strengthen Viterra's rail-based supply chain with CN.

Under the agreement, Viterra and CN will work together to review supply chain key performance indicators, cooperate on planning and forecasting, and address supply chain issues in a timely manner. The agreement is based on the belief that the actions of all supply chain participants affect the performance of the entire chain.

"At CN, we know that what gets measured can be improved," said Claude Mongeau, President and Chief Executive Officer of CN. "We believe our innovative agreement with Viterra will lead to greater supply chain efficiency, from the Canadian prairie elevators, to the export vessels. Our agreement with Viterra builds on the success of CN's Scheduled Grain train operation that has already delivered fundamental gains in grain industry supply chain performance. CN spots hopper cars at specific country elevators, at scheduled times, on scheduled days, every week. Our aim with this supply chain agreement is to further improve upon this service to help Viterra better compete in world markets."

"Through Viterra's world-class elevator and export terminal network and related logistics expertise, we work closely with growers in marketing and handling their grain at our facilities, moving it efficiently by rail and providing timely delivery to our domestic and international customers," said Fran Malecha, Viterra's Chief Operating Officer, Grain. "With this important new agreement, we will work even closer with CN to achieve greater supply chain reliability and improved service to our grower and export customers. Viterra and CN's commitment to continuous supply chain improvements is based on mutual trust and confidence, and will benefit all of our key stakeholders, making our sector even more vibrant."

About Viterra

Viterra provides premium quality ingredients to leading global food manufacturers. Headquartered in Canada, the global agri-business has extensive operations across Canada, the United States, Australia and New Zealand, as well as a growing international presence that extends to offices in Japan, Singapore, China, Vietnam, Switzerland, Italy, Ukraine, Germany, Spain and India. Driven by an entrepreneurial spirit, Viterra operates three distinct business segments: Grain Handling and Marketing, Agri-products and Processing. Viterra's expertise, close relationships with producers and superior logistical assets allow the Company to consistently meet the needs of the most discerning end-use customers, helping to fulfill the nutritional needs of people around the world.

About CN

CN - Canadian National Railway Company and its operating railway subsidiaries -spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.

Forward-Looking Statements

Certain information included in this news release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of the Company or the rail industry to be materially different from the outlook or any future results or performance implied by such statements.

Important risk factors that could affect the forward-looking statements include, but are not limited to, the effects of general economic and business conditions, industry competition, inflation, currency and interest rate fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, actions by regulators, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor negotiations and disruptions, environmental claims, uncertainties of investigations, proceedings or other types of claims and litigation, risks and liabilities arising from derailments, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CN's annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN's website, for a summary of major risks.

CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable Canadian securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

Contact Information

  • CN - Media
    Mark Hallman
    Director, Communications & Public Affairs
    905-669-3384

    CN - Investors
    Robert Noorigian
    Vice President, Investor Relations
    514-399-0052
    www.cn.ca

    Viterra
    Robin Speer
    Government and Commercial Relations
    403-718-6259
    www.viterra.ca