CALGARY, Jan. 19, 2012 /PRNewswire/ - Canadian Pacific
Railway Limited (TSX: CP) (NYSE: CP) announced today an agreement
with Canadian Tire Corporation Limited (TSX: CTC.a) (TSX: CTC)
which extends to early 2017 and awards the railway with the vast
majority of Canadian Tire's domestic container traffic.
"We're delighted to renew our longstanding partnership with CP,"
said Pat Sinnott, Executive
Vice-President, Supply Chain and Technology, Canadian Tire
Corporation. "We rely on rail extensively to get our goods to
market. Rail is the most efficient and sustainable way to
move our products and CP is a trusted partner that will enable us
to continue to deliver products reliably to over 1,700 Canadian
Tire, Mark's and FGL Sports retail locations across the
country."
"Our railway has been serving Canadian Tire, one of our largest
intermodal customers, for more than eight decades and we will
continue to execute on our solid operating plan to foster growth
opportunities for both companies," said Jane O'Hagan, CMO and EVP Marketing & Sales,
Canadian Pacific.
The agreement builds on the shared successes the companies
have had in efficiently servicing Canadian Tire's dealers and
corporate stores. Recent rail network enhancements completed at CP,
and the work already underway to further maximize efficiencies
through a facility co-location strategy, will allow the companies
to continue to develop and deliver supply chain solutions for
Canadian Tire's growing retail business.
Note on forward-looking information
This news release contains certain forward-looking statements
relating but not limited to our operations, 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, including
but not limited to the following factors: changes in business
strategies; general North American and global economic, credit and
business conditions; risks in agricultural production such as
weather conditions and insect populations; the availability and
price of energy commodities; the effects of competition and pricing
pressures; industry capacity; shifts in market demand; inflation;
changes in laws and regulations, including regulation of rates;
changes in taxes and tax rates; potential increases in maintenance
and operating costs; uncertainties of investigations, proceedings
or other types of claims and litigation; labour disputes; risks and
liabilities arising from derailments; transportation of dangerous
goods; timing of completion of capital and maintenance projects;
currency and interest rate fluctuations; effects of changes in
market conditions and discount rates on the financial position of
pension plans and investments, including long-term floating rate
notes; and various events that could disrupt operations, including
severe weather, droughts, floods, avalanches and earthquakes as
well as security threats and governmental response to them, and
technological changes. 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.
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 (CP:TSX)(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