CALGARY, Dec. 4, 2018 /CNW/ - Canadian Pacific (TSX:CP)
(NYSE:CP) is proud to announce that November
2018 was another very strong month for the movement of
Canadian grain. The company has broken its previous record
for carloads of Western Canadian grain and grain products shipped
to the Port of Vancouver in a
single month. In November, more than 17,150 carloads of
Canadian grain and grain products were shipped on CP to
Vancouver, a total of 1.54 million
metric tonnes (MMT).
"CP's operations team continues to deliver for our customers day
after day. Vancouver is a key
outlet for Canadian grain to move to export markets, and is a very
important corridor for our customers," said Joan Hardy, CP Vice-President Sales and
Marketing – Grain and Fertilizers. "This record is a testament to
the dedication we have to providing service to our customers, and
showcases the incredible momentum we have as a company. Once again,
our operating model is showing its power."
Last month CP announced that October
2018 was the company's best month ever for shipment of grain
and grain products, moving 2.64 MMT to all destinations. Overall,
CP's November grain and grain products shipments were very strong
at 2.50 MMT. Since the fall harvest push started in September, CP
has moved 2 percent more grain and grain products than the same
period last year.
"Working in close collaboration with farmers, producers, ports
and the entire grain supply chain, we continue to deliver for
Canada's agriculture sector," said
Hardy.
Note on forward-looking information
This news release
contains certain forward-looking information within the meaning of
applicable securities laws relating, but not limited, to CP's plans
and expectations with respect to transporting grain in the
2018/2019 crop year, capital investment, including with respect to
CP's locomotive and grain hopper fleet, the implementation and
results of CP's sales and marketing, operations and technology
initiatives (including hiring and training new employees and CP's
plans to purchase new hopper cars over the next four years) as well
as the Company's operations, priorities and plans, anticipated
performance, business prospects, programs and strategies. This
forward-looking information also includes, but is not limited to,
statements concerning expectations, beliefs, plans, goals,
objectives, assumptions and statements about possible future
events, conditions, and results of operations or performance.
Forward-looking information may contain statements with words or
headings such as "financial expectations", "key assumptions",
"anticipate", "believe", "expect", "plan", "will", "outlook",
"should" or similar words suggesting future outcomes. Undue
reliance should not be placed on forward-looking information as
actual results may differ materially from the forward-looking
information. Forward-looking information is not a guarantee of
future performance. By its nature, CP's forward-looking information
involves numerous assumptions, inherent risks and uncertainties
that could cause actual results to differ materially from the
forward-looking information, 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; changes in commodity prices; uncertainty
surrounding timing and volumes of commodities being shipped via CP;
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; 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. The foregoing list of factors is not exhaustive. These and
other factors 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 "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations - Forward-Looking Information" in CP's
annual and interim reports on Form 10-K and 10-Q.
Readers are cautioned not to place undue reliance on
forward-looking information. Forward-looking information is based
on current expectations, estimates and projections and it is
possible that predictions, forecasts, projections, and other forms
of forward-looking information will not be achieved by CP. 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 is a
transcontinental railway in Canada
and the United States with direct
links to major ports on the west and east coasts. CP provides North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of CP. CP-IR
View original
content:http://www.prnewswire.com/news-releases/canadian-pacific-breaks-more-grain-records-sets-new-carload-record-for-shipments-to-port-of-vancouver-in-november-300759756.html
SOURCE Canadian Pacific