CP Canadian Pacific Kansas City Limited

CALGARY, Dec. 11, 2012 /PRNewswire/ - The Teamsters Canada Rail Conference - Maintenance of Way Employees Division (TCRC-MWED), representing 2600 maintenance of way workers, and Canadian Pacific (TSX:CP)(NYSE:CP) reached a tentative historic five-year contract settlement.

"I would like to congratulate this union's leadership for their work and professionalism at the bargaining table," said Canadian Pacific President and CEO E. Hunter Harrison.

Bill Brehl, President Teamsters Canada Rail Conference, Maintenance of Way Employees Division said: "The Teamsters' bargaining committee unanimously endorses this tentative agreement and is recommending the membership ratify it."

The Memorandum of Settlement will be sent to the union membership next week, with results from the vote expected in mid-January, 2013.

Details of the tentative agreement will be released following ratification.

SOURCE Canadian Pacific