TELLIER: CONSOLIDATION IS ?INEVITABLE?

TELLIER: CONSOLIDATION IS æINEVITABLEÆ    Paul M. Tellier, Canadian National Railway Co.'s president and chief executive officer said “further consolidation of railroads is almost inevitable”.
   He added new rail mergers are unlikely within the next two to three years, although events could trigger a new round of rail consolidation more quickly.
   In a speech to the North American Fertilizer Transportation Conference, Tellier said the increasing integration of the American and Canadian economies will require a greater north-south orientation of the North American rail industry.
   North American railroads will also have a sharper customer focus, greater market share and healthier balance sheets, he predicted.