UNP Union Pacific Corp

   By Stephen Nakrosis 
 

Union Pacific Corp. (UNP) on Monday announced its Unified Plan 2020, a new operating plan that "implements Precision Scheduled Railroading principles."

The railroad said the new plan will launch Oct. 1 and will be rolled out in phases across the entire Union Pacific rail network.

"We are not currently meeting customer expectations," said Lance Fritz, Union Pacific's chairman, president and chief executive officer. "Unified Plan 2020 is our path forward to secure our place as the industry leader in safety, service and financial performance."

Union Pacific said some of the key principles involved in the plan include shifting the focus of operations from moving trains to moving cars; utilizing general-purpose trains by blending existing train services; and balancing train movements to improve the utilization of crews and rail assets.

The railroad said its new plan first will be implemented on Union Pacific's eastern North/South corridor, in an effort to create more streamlined operations between Wisconsin and Texas. Following that, further roll-out will continue in phases, with initial implementation across the entire rail network expected by 2020.

Shares of Union Pacific closed trading Monday at $156.71, down 0.44%. In the after-hours session, shares at 5:25 p.m. EDT were up 3.38% to $162.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 17, 2018 17:47 ET (21:47 GMT)

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