CPR and Teamsters Canada Rail Conference reach agreement in principle on contract for train crew employees CALGARY, Oct. 19 /PRNewswire-FirstCall/ -- Canadian Pacific Railway (TSX/NYSE: CP) and the Teamsters Canada Rail Conference announced today that they have reached agreement in principle to renew collective agreements governing approximately 4,500 employees who operate trains. The four-year agreement provides for wage, pension, benefits, work rule and productivity improvements. "This is a well balanced agreement that will provide value for our employees and shareholders," Rob Ritchie, President and Chief Executive Officer of CPR, said. George Hucker, Vice-President and National Legislative Representative with the Teamsters, said the agreement is the first secured with CPR since the Teamsters gained bargaining rights last year. "We are pleased to see the successful conclusion of this negotiation," Mr. Hucker said. Ratification results will be determined over the next few months. 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:

Copyright