CALGARY and VANCOUVER, March
2 /PRNewswire/ - Canadian Pacific (TSX:CP) (NYSE:CP) and TSI
Terminal Systems Inc. (TSI), a subsidiary of GCT Global Container
Terminals Inc., today announced the signing of a Service Level
Agreement that builds on their productivity and performance
agreement announced last June.
The agreement outlines key performance indicators relating to
the flow of containers through the Vancouver Gateway. Meeting the
performance indicators will improve productivity, enhance
reliability, and increase efficiency. The agreement period is three
years.
"This Service Level Agreement continues to move us along the
path of a high performance, efficient and reliable supply chain to
ensure that Vancouver is a
preferred intermodal gateway." said Michael
E. Moore, President and Chief Executive Officer of Global
Container Terminals. "Our partnership with CP and our commitment to
collaborate on delivering high-level service to our mutual
customers will ensure success."
"Canadian Pacific's customer focused partnerships, upgraded
infrastructure, innovative technology and industry leading safety
practices give us the means to grow our franchise over the long
term," said Fred Green, President
and Chief Executive Officer of Canadian Pacific. "As import and
export volumes grow through the Pacific Gateway, CP and TSI are
mutually committed to service improvements in the world-class
Vancouver gateway."
TSI is the largest container terminal operator in Canada, handling more than 70 percent of the
containerized cargo that moves through the Vancouver gateway. This is the sixth
collaboration agreement announced by Canadian Pacific in the past
12 months.
About Canadian Pacific:
Canadian Pacific (TSX:CP) (NYSE:CP) operates a North American
transcontinental railroad providing freight transportation
services, logistics solutions and supply chain expertise.
Incorporating best-in-class technology and environmental practices,
CP is re-defining itself as a modern 21st century transportation
company built on safety, service reliability and operational
efficiency. Visit cpr.ca and see how Canadian Pacific is Driving
the Digital Railway.
About GCT Global Container Terminals Inc.:
GCT Global Container Terminals Inc. is a wholly-owned subsidiary
of the Ontario Teachers' Pension Plan, one of the largest financial
institutions in Canada. The
Company operates four container terminals through three principal
businesses in North America: TSI
Terminal Systems Inc. in Vancouver
and Delta, British Columbia; New
York Container Terminal on Staten Island,
New York; and Global Terminal & Container Services in
Bayonne, New Jersey. TSI is the
largest container terminal operator in Canada, handling more than 70 per cent of the
containerized cargo moving through its two terminals which it
operates under long-term lease at Port Metro Vancouver.
For more information on Global Container Terminals, visit the
company's website at www.globalterminals.com
SOURCE Canadian Pacific