Canadian National (CN) has finalised its acquisition of Iowa Northern Railway, a US railroad firm which runs 275 miles (440km) of railways, connecting the Canadian rail network with other CN assets in the US.
CN said the deal creates a “single-line service to North American [freight] destinations.” Iowa Northern currently serves industry and agriculture in the Midwest US region.
“We are delighted to have reached an agreement with Iowa Northern Railway. We look forward to the opportunities our combined network will provide customers, farmers, and our partners to respond to the needs of their existing and new markets,” said CN’s CEO, Tracy Robinson.
“By enabling all of us to play an even more important role in this critical supply chain and densifying our southern network, we are accelerating sustainable, profitable growth,” she added.
“We believe CN shares Iowa Northern Railway’s commitment to local stakeholders and that this transaction will be beneficial for customers, employees and the local Iowa economy. We are confident that, as part of CN, IANR will be able to continue to provide reliable first and last mile service to our local customers while providing them access to a much broader network and market,” IANR’s chair Daniel Sabin said.
