(The Canadian Press distributed the following article on December 10.)
VANCOUVER — Canadian National Railway Co. has appointed a senior Pacific region executive to oversee the Montreal company’s $1 billion takeover of BC Rail.
Canada’s largest railway said Tuesday that David Edison, a longtime CN executive, will lead the transition team responsible for the integration of BC Rail into CN. The British Columbia government sold the regional railway to CN in late November in a $1 billion deal that combines Canada’s largest and third-largest railways. For the last four years, Edison has been vice-president of CN’s Pacific operations, in charge of all CN operations, engineering and regional sales in Alberta and British Columbia.
CN said Edison will continue to be based in Vancouver, but will spend time in communities in the B.C. North and Interior, where BC Rail has major operations.
“Dave brings seasoned judgment and sound leadership to his new assignment, as well as extensive knowledge and understanding of BC Rail, the shippers it serves, its employees and the communities they live in,” CN president and CEO Hunter Harrison said in a release.
Edison will be responsible for the integration of BC Rail employees and operations into CN, a process expected to take up to three years.
The $1 billion acquisition is subject to approval by Canada’s Competition Bureau and is expected to close in the 2004 first quarter. Under the deal, CN plans to cut about 430 BC Rail jobs, about a third of the company’s workforce.