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Norfolk Southern Corp announced details of a strategic plan to become a 'faster, lower cost and more profitable railroad' on January 27, saying it expects to achieve annual productivity savings of $130m in 2016 and more than $650m by 2020.
The plan is the result of a six-month evaluation of the company's business model led by Chairman, President & CEO James A Squires.
The package may assist NS in fending off repeated approaches from Canadian Pacific, which announced in November that it believed a merger could create 'significant shareholder value.'
NS expects to achieve an operating ratio below 70 in 2016 and less than 65 by 2020, predicting double digit annual earnings per share growth, increased return on equity and higher return of capital. Revenue growth, resource optimisation and expense reduction measures to be implemented by 2020 include:
This article first appeared on www.railwaygazette.com
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