(Bloomberg News circulated the following article by Rob Delaney on January 15.)
TORONTO — Canadian National Railway Co., the country’s largest railway, and the Canadian Auto Workers union said they completed negotiations on contracts covering three groups of employees.
The four-year contracts will be effective retroactive to Jan. 1, pending final approval, Canadian National said in a statement today. Union members will vote on the agreements “later this week,” the auto workers’ union, which represents more than 4,000 Canadian National employees, said in a separate statement.
The contracts cover clerical staff, railroad workers and truck operators, Jim Pare, a union spokesman, said in a telephone interview.
“There are commonalities among all three groups, such as wages and pensions, while there are separate clauses among the three groups that reflect the different responsibilities,” Pare said.
Details of the agreements will be announced after they’re ratified, Canadian National said.
Shares of Canadian National rose 56 cents to C$52.25 at the 4 p.m. close of trading on the Toronto Stock Exchange. The stock has gained 4.4 percent this year.