Track maintenance employees ratify contract with Canadian Pacific Railway
21 Marzo 2005 - 6:47PM
PR Newswire (US)
Track maintenance employees ratify contract with Canadian Pacific
Railway CALGARY, March 21 /PRNewswire-FirstCall/ -- Canadian
Pacific Railway (TSX/NYSE: CP) announced that track maintenance
employees have ratified a three-year collective agreement reached
with the Teamsters Canada Rail Conference - Maintenance of Way
Employees Division. The agreement, which covers approximately 2,500
employees, extends to the end of 2006. It provides for improvements
in wages, pensions and benefits, and includes work rule changes
that will result in increased productivity. Wage increases are 3
per cent in each of the three years of the agreement. Rob Ritchie,
President and Chief Executive Officer of CPR, said: "We are pleased
with the progress being made in our contract negotiations. This
settlement with our track maintenance employees follows the pattern
we have established in our contract settlements. It provides for
mutual benefits that deliver value to employees and shareholders
and provides for a productive work environment." Canadian Pacific
Railway is a transcontinental carrier operating in Canada and the
U.S. Its 14,000-mile rail network serves the principal centres of
Canada, from Montreal to Vancouver, and the U.S. Northeast and
Midwest regions. CPR feeds directly into America's heartland from
the East and West coasts. Alliances with other carriers extend its
market reach throughout the U.S. and into Mexico. Canadian Pacific
Logistics Solutions provides logistics and supply chain expertise
worldwide. For more information, visit CPR's website at
http://www.cpr.ca/. DATASOURCE: Canadian Pacific Railway CONTACT:
Media: Len Cocolicchio, Tel.: (403) 319-7591, E-mail: ; Investors:
Paul Bell, Vice-President, Investor Relations, (403) 319-3591,
E-mail:
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