SASKATOON, Dec. 14, 2011 /PRNewswire/ - Canadian Pacific
(TSX: CP) (NYSE: CP) announced completion of its first year of
infrastructure enhancements as part of an aggressive three-year
plan to upgrade its North Main Line between Winnipeg and Edmonton.
The $250 million North Main Line
infrastructure program spans roughly 850 miles in three provinces
and allows CP to increase capacity and service reliability for
customers, including agricultural, fertilizer and energy
producers.
"The investment provides flexibility and alternative route
options with operating speeds equivalent to its southern Canadian
route," said CP Executive Vice-President Operations Mike Franczak. "Not only will the North
Main upgrade increase capacity and raise train speed, it will offer
a more direct route for some bulk and intermodal traffic."
During the 2011 work season CP completed 155 miles of track
enhancements on the North Main Line. CP customers are now
experiencing the service benefits of these investments which
include increased track speeds and improved asset utilization.
The North Main Line infrastructure enhancement program includes
rail and tie upgrades; new and extended sidings, which will allow
for increased number of long trains; and public crossing upgrades.
In addition, CP will enhance efficiencies at CP yards in
Saskatchewan, such as its
Bredenbury yard, which is
benefiting from increased staging capacity.
"About two-thirds of Saskatchewan's provincial GDP is derived from
exports," The Honourable Jim Reiter, Saskatchewan's Minister of Highways and
Infrastructure said. "With Saskatchewan once again forecasted
to lead the nation in economic growth, CP's enhancement to main
line capacity will positively impact our province's competiveness
in a global marketplace."
Note on forward-looking information
This news release contains certain forward-looking statements
relating but not limited to our operations, proposed investments,
anticipated financial performance and business prospects. Undue
reliance should not be placed on forward-looking information as
actual results may differ materially.
By its nature, CP's forward-looking information involves
numerous assumptions, inherent risks and uncertainties.
Forward-looking statements are not guarantees of future
performance. Factors that could affect forward-looking information
include, but are not limited to: changes in business strategies;
general North American and global economic, credit and business
conditions; inflation; currency and interest rate fluctuations; the
availability and price of energy commodities; the effects of
competition and pricing pressures; industry capacity; shifts in
market demand; changes in laws and regulations, including
regulation of rates; changes in taxes and tax rates; actions by
regulators; potential increases in maintenance and operating costs;
uncertainties of litigation; risks and liabilities arising from
derailments; timing of completion of capital and maintenance
projects; currency and interest rate fluctuations; technological
changes; and various events that could disrupt operations,
including severe weather conditions, flooding, earthquakes, labour
disputes, risks and liabilities arising from derailments as well as
security threats and governmental response to them. Other risks are
detailed from time to time in reports filed by CP with securities
regulators in Canada and
the United States. Reference
should be made to "Management's Discussion and Analysis" in CP's
annual and interim reports, Annual Information Form and Form 40-F
for a summary of major risks.
Except as required by law, CP undertakes no obligation to update
publicly or otherwise revise any forward-looking information,
whether as a result of new information, future events or
otherwise.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) operates a North American
transcontinental railway 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.
SOURCE Canadian Pacific