Canada: CN reported a profit for 1996 of C$142m, compared to a C$1·1bn loss in 1995. Much of the 1996 fourth-quarter loss of C$166m was blamed on restructuring costs of C$365m to cover job losses. CN has announced plans to consolidate its four revenue management centres at a single Toronto unit.
Lithuania: The EIB has loaned Ecu22m to LG for upgrading work on 310 km of the Sumskas - Klaipeda and Kasiadorys - Kybartai routes.New Zealand: Tranz Rail Holdings has retired its NZ$118m secured debt, using funds generated by the sale and lease-back of part of the rolling stock fleet.
Mexico: The government is to buy a 24·5% stake in the Transportacion Ferroviaria Mexicana consortium which took over the Northeastern Railway on January 31. Promoters TMM and KCSI have each sold US$100m of non-voting shares to FNM, which will hold them on behalf of the government.
