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Canada's Magazine for Financing & Leasing Executives

May 1, 2015

National Steel Car supports North American harmonized regulations for stronger and safer rail tank cars to transport flammable liquid

Hamilton, ON--National Steel Car welcomes today's joint announcement of the North American harmonized regulations for the next generation of stronger and safer rail tank cars for the transportation of flammable liquids. The announcement was made this morning in   Washington, D.C., by the Honourable Lisa Raitt, Minister of Transport, and United States Secretary of Transportation Anthony Foxx.

"As one of   North America's  largest rail manufacturers, we commend Minister Raitt for her leadership on this important issue," said   Gregory J. Aziz, Chairman & CEO. "Our customers needed clarity on the issue of safety regulations moving forward and today's announcement provides just that."

National Steel Car is pleased that the governments have harmonized their regulations. Recent accidents in   Canadaand   the United States  have highlighted the importance that the North American rail system be as safe as it can be.

Vince De Luca , Chief Financial Officer added "Government leadership with new standards like those announced today is an important part of making the rail sector continue to be viable and central to the success of our local economy."

"Since   October 2014, we've hired more than 900 new employees and made significant investments in our plant equipment," said   Lorraine Johnson, Chief Operating Officer. "By upgrading our technology at National Steel Car, we increase productivity and safety and contribute to a better environmental footprint for   North America". 

Hugh Nicholson , Executive Vice President, Marketing, Sales & Quality added "We are in discussions with many North American customers regarding orders for new rail tank cars, who want best-in-class safety solutions. We are already manufacturing tank cars that comply with these new regulations and we have additional capacity in late 2015 to accommodate our customers' needs."

National Steel Car is proud to call   Hamilton  home. With over 100 years of excellence in engineering, manufacturing and a commitment to quality, National Steel Car has earned a reputation as   North America's  leading railroad freight car manufacturer.



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