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Chemtrade Logistics Income Fund
Symbol CHE
Shares Issued 92,596,006
Close 2019-11-20 C$ 10.75
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Globe says CN strike will weigh on Chemtrade results

2019-11-21 07:46 ET - In the News

See In the News (C-CNR) Canadian National Railway Company

The Globe and Mail reports in its Thursday edition that businesses are braced for a wider impact of a strike at Canadian National Railway. The Globe's Eric Atkins writes that about 3,200 CN workers walked off the job Tuesday, halting shipments of grain, forest products and other freight on Canada's largest rail network. Chemtrade Logistics chief executive officer Mark Davis says the strike will hit the company's financial results, and force the shutdown of its plants within days, unless the strike ends and rail service resumes. Chemtrade makes bulk chemicals for pulp mills, petroleum fracking and water treatment. Twelve of its 64 plants are in Canada. To serve customers and bring in raw materials, trucks are not an option, nor is another railway, given the plants' locations. The CN strike has rattled Canada's farmers, grain companies, miners, retailers and other industries that rely on railways to reach export terminals and customers. Some groups, including the Alberta provincial government, are urging the federal government to pass legislation that would end the strike. The government, meanwhile, is urging CN and the union to come to an agreement. The union says safety is the major issue blocking a settlement.

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