Canadian Pacific Railway announces long-term agreement with Toyota
09 Giugno 2006 - 2:19AM
PR Newswire (US)
CALGARY, June 8 /PRNewswire-FirstCall/ -- Canadian Pacific Railway
(TSX/NYSE: CP) announced today that it has entered into a long-term
agreement with Toyota Motor Sales to provide rail service to
Toyota's new automotive plant at Woodstock, Ontario. "This is a
real-time outcome of our focus on Execution Excellence and one that
builds on our already strong partnership with Toyota," said Fred
Green, President and CEO of CPR. "We have been supplying rail
service to Toyota's Cambridge plant for more than 17 years and this
agreement demonstrates that Toyota is confident in CPR's ability to
provide the same quality rail service to their new Woodstock
plant." The Toyota Woodstock plant will be opened in 2008. When
completed, it will have the capacity to build 150,000 units
annually of Toyota's RAV4 sport utility vehicle. CPR will be the
primary rail carrier providing transportation for finished vehicles
manufactured at the plant to markets throughout North America. CPR
has commenced an environmental assessment for a new rail facility
to service the Toyota plant. As part of this process, public
consultation with local residents and municipal officials has
begun, and will be on-going. 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. Canadian Pacific Railway is marking its 125th
anniversary in 2006. For more information, visit CPR's website at
http://www.cpr.ca/. Toyota (NYSE:TM) established operations in
North America in 1957 and will operate 15 manufacturing plants in
North America by 2008. There are more than 1,700 Toyota, Lexus and
Scion dealerships in North America which sell more than 2.5 million
vehicles a year. Toyota directly employs over 38,000 in North
America and its investment here is currently valued at more than
$16.8 billion, including sales and manufacturing operations,
research and development, financial services and design. Toyota's
annual purchasing of parts, materials, goods and services from
North American suppliers totals more than $26 billion. According to
a 2005 Center for Automotive Research study, Toyota, along with its
dealers and suppliers, has generated nearly 400,000 U.S. jobs,
including jobs created through spending by direct, dealer and
suppliers employees. DATASOURCE: Canadian Pacific Railway CONTACT:
Media, Leslie Pidcock, Manager, Corporate Communications, Tel.:
(403) 319-6878, e-mail: ; Investment Community, Paul Bell,
Vice-President Investor Relations, Tel.: (403) 319-3591, e-mail:
Copyright