CN buys Iowa Northern Railway

News 8 Dec 2023 by WCN Editorial

In a move to further improve its intermodal rail services across North America, Canada’s CN transportation group is to buy Waterloo (Iowa)-based Iowa Northern Railway (IANR). IANR operates about 275 miles of track in Iowa that is highly strategic as it connects directly with CN’s US rail network. It also services the important agricultural and industrial belts of the upper mid-west region.

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“We are delighted to have reached an agreement with Iowa Northern Railway and 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 Tracy Robinson, president and CEO of CN. “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.”

Management at IANR believe the deal is also in the best interests of its customer and stakeholders. “We are very pleased to have reached a deal with CN,” explained Daniel Sabin, chairman of IANR. “We believe CN shares IANR’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.”

The deal, the value of which has not been announced, requires the approval of the US’s Surface Transportation Board. This is expected in 2024.