CPR and International Brotherhood of Electrical Workers reach agreement on five-year contract with signal maintainers CALGARY, July 14 /PRNewswire-FirstCall/ -- Canadian Pacific Railway (TSX/NYSE: CP) and the International Brotherhood of Electrical Workers (IBEW), representing about 450 employees who maintain railway signal systems, today announced they have reached a tentative five-year collective agreement. The agreement, which extends through to Dec. 31, 2009, provides for wage, benefits, work rule and productivity improvements. Details are not available pending ratification. "With this settlement, CPR has successfully negotiated collective agreements with all of its unionized employees in Canada," Rob Ritchie, CPR President and CEO said. "CPR and its unions recognize that a stable labour environment enables all stakeholders to benefit from growing demand for rail service." The settlement is subject to ratification by IBEW members. Results of the ratification vote are expected in September. 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: Canadian Pacific Railway: Media: Len Cocolicchio, Tel.: (403) 319-7591, E-mail: ; Investors: Paul Bell, Vice-President, Investor Relations, (403) 319-3591, E-mail:

Copyright