(Reuters) - Canadian National Railway Co and Teamsters Canada Rail Conference (TCRC) have reached a tentative agreement on labor contracts before the expiry of the current contract.
Details were not available, as the agreement needs to be ratified by TCRC members, a process expected to take about 60 days.
The contract covers about 1,800 CN locomotive engineers in Canada.
“It’s the first time we have reached a tentative agreement with CN before the expiration of the old contract,” Rex Beatty, president of the TCRC, said in a statement.
Shares of CN, Canada’s biggest railway, were trading down 1 percent at C$77.99 on Monday on the Toronto Stock Exchange. The wider TSX index was down 1.75 percent. (Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)