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Norfolk Souther: To Upcoming Positive Train Control Deadline

The following excerpt is from the company's SEC filing.

NORFOLK, Va., Oct. 20, 2015 – Norfolk Southern Corporation (NYSE: NSC) today said its rail operating subsidiaries will no longer accept shipments of Poisonous-Inhalation-Hazard commodities, effective Dec. 1, 2015. PIH commodities in transit on Dec. 1 will be delivered to destination by Dec. 31. Additionally, passenger and commuter trains operated by Amtrak, Virginia Railway Express, and Metra will be prohibited by law from operating on NS after Dec. 31.

The cessation of service – effective across the entire NS rail network – is required to comply with federal safety laws that become effective after Dec. 31, the government’s deadline for installation of PTC. Despite investment of nearly $1 billion to date, NS will not meet the deadline.

The status of non-PIH traffic interchanged with other railroads and freight operations on the Northeast Corridor after Dec. 31 is currently under review.

“We remain hopeful that Congress will grant the railroad industry an extension of the PTC...