CPR and Teamsters Canada Rail Conference reach agreement in principle on contract for train crew employees
19 Ottobre 2004 - 7:15PM
PR Newswire (US)
CPR and Teamsters Canada Rail Conference reach agreement in
principle on contract for train crew employees CALGARY, Oct. 19
/PRNewswire-FirstCall/ -- Canadian Pacific Railway (TSX/NYSE: CP)
and the Teamsters Canada Rail Conference announced today that they
have reached agreement in principle to renew collective agreements
governing approximately 4,500 employees who operate trains. The
four-year agreement provides for wage, pension, benefits, work rule
and productivity improvements. "This is a well balanced agreement
that will provide value for our employees and shareholders," Rob
Ritchie, President and Chief Executive Officer of CPR, said. George
Hucker, Vice-President and National Legislative Representative with
the Teamsters, said the agreement is the first secured with CPR
since the Teamsters gained bargaining rights last year. "We are
pleased to see the successful conclusion of this negotiation," Mr.
Hucker said. Ratification results will be determined over the next
few months. Canadian Pacific Railway is a transcontinental carrier
operating in Canada and the U.S. Its 14,000-mile rail network
serves the principal centres of Canada, from Montreal to Vancouver,
and the U.S. Northeast and Midwest regions. CPR feeds directly into
America's heartland from the East and West coasts. Alliances with
other carriers extend its market reach throughout the U.S. and into
Mexico. Canadian Pacific Logistics Solutions provides logistics and
supply chain expertise worldwide. For more information, visit CPR's
website at http://www.cpr.ca/. DATASOURCE: Canadian Pacific Railway
CONTACT: Media: Len Cocolicchio, Tel.: (403) 319-7591, E-mail: ;
Investors: Paul Bell, Vice-President, Investor Relations, (403)
319-3591, E-mail:
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