CALGARY, April 26, 2017 /CNW/ - Canadian Pacific (CP), and
senior officials from the Vancouver Fraser Port Authority, the
Montreal Port Authority, Global Container Terminals Canada,
Montreal Gateway Terminals Partnership, DP World Canada, Logistec
Corp. and Fraser Surrey Docks yesterday met at CP's head office in
Calgary to discuss their
commitment to working together in promoting Canada's largest and two most important
gateways to the international supply chain.
Since 2012, CP has undergone massive operational and customer
service improvements that have enabled the railway to be a leader
in the North American rail industry and positioned the company for
growth. In February of this year, CP made significant changes to
its international intermodal bench including the appointment of
Jonathan Wahba as Vice-President
Sales and Marketing, Intermodal and Grain.
"Yesterday's meeting with the Montreal Port Authority, the
Vancouver Fraser Port Authority and terminal operators from both
ports is a crucial step in CP enhancing these important
partnerships to sell our fastest service in the largest corridors
from Vancouver and Montreal, to continue to improve our
performance in other lanes and to grow our businesses together,"
said Wahba. "CP's international intermodal team is the strongest
and most focused it has ever been."
By leveraging CP's competitive advantages and adding Trip Plan
to its service offering, CP's customers enjoy the fastest service
from Vancouver to Chicago and Minneapolis. CP continues to shorten transit
times in other major corridors to provide its customers with
reliable service from coast-to-coast. Supported by increased
investments in infrastructure and service delivery, CP is primed
for growth.
The Port of Vancouver is
Canada's largest and most
diversified port, operating across five business sectors and
facilitating trade with more than 170 world economies.
"Looking ahead to the future of trade through the Port of
Vancouver, we regularly consider
how best to balance Canada's trade
demands with the need to protect the environment and maintain the
quality of life of our neighbours," said Peter Xotta, Vancouver Fraser Port Authority
Vice-President Planning and Operations. "We had the opportunity to
sit down with our supply-chain partners to discuss how we can most
effectively work together to achieve our common goals and chart a
course toward a sustainable future."
CP has been operating in the Montreal area for more than 135 years and
operated at the Port of Montreal
when it opened 50 years ago. The Port of Montreal has the shortest direct route from
Europe and the Mediterranean to
North America and is the closest
international container port to North
America's industrial heartland.
''Through our storied past, the collaborative efforts between
the Port of Montreal and CP have
led to many extraordinary successes," said Sylvie Vachon, Montreal Port Authority President
and Chief Executive Officer. "We are confident that the recent
changes announced by CP and their international intermodal team,
coupled with their improved services, will enable the port of
Montreal to maintain its status as
the premier intermodal port of North
America, and together experience many more successes going
forward."
Forward Looking Statement
This news release contains certain forward-looking information
within the meaning of applicable securities laws relating, but not
limited, to our operations, priorities and plans, anticipated
financial performance, business prospects, planned capital
expenditures, 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
(TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the
United States with direct links to eight major ports,
including Vancouver and
Montreal, providing 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.
SOURCE Canadian Pacific