CALGARY, June 7, 2017 /PRNewswire/ - With a focus on
customer service and a willingness to identify and implement total
transportation solutions, Canadian Pacific's (TSX: CP) (NYSE: CP)
Sales and Marketing team is generating new opportunities and
driving growth.
"We have a proven operating model, the shortest routes in key
markets, and are now making great strides in customer service,"
said Keith Creel, CP's President and
CEO. "Over the last four years, a lot of work has been done to
improve our cost structure and build a strong foundation for
success. We are now well positioned to leverage CP's safe, highly
efficient and low-cost transportation model."
Building on the success of its grain franchise and the
innovative Dedicated Train Program, the Sales and Marketing team is
focused on strategic improvements across all lines of business,
with one objective: leveraging the total transportation
product.
"We are now at an inflection point and are well positioned to
grow the franchise, sell a competitive service and offer our
customers a best-in-class, total transportation solution," said
John Brooks, CP's Chief Marketing
Officer. "CP delivers safely and efficiently from A to Z, but now
by collaborating closely with our customers and actively listening,
we better understand their needs and are taking action to
strengthen our total product in the marketplace."
Two recent initiatives highlight CP's innovative approach to
enhancing its customer experience through offering a more reliable
total product and extending its market reach:
-CP is making the single largest purchase of gensets in railroad
history with an order for 41 brand new gensets equipped with the
latest telematics and most fuel efficient technology available in
the marketplace, to be delivered throughout the remainder of 2017
and the first quarter of 2018. Gensets are purpose built 40-foot
containers that house two large generators capable of powering up
to 17 refrigerated ocean-going containers. With this investment CP
is expanding its protective and perishable service (PPS) product
for its customers to serve a growing segment of the transportation
market. CP's significant investment in gensets will allow it to
launch more transcontinental genset train starts from the ports of
Vancouver and Montreal than any other Class 1 railroad,
providing CP customers the most frequent, reliable, and
environmentally friendly PPS service on the market today, all
supported by an unparalleled telematics package providing the
assurance of real time cold-chain security.
-A new "live" lift at Portal, North
Dakota was successfully opened in May. Portal is the border crossing for CP's
intermodal traffic moving between Western
Canada and the U.S. Midwest. The new service allows CP to
lift single containers off of trains for inspection by Canadian and
U.S. authorities as opposed to having entire intermodal cars
set-off, which could hold three or more containers. This investment
will virtually eliminate non-targeted containers from being delayed
at the border crossing.
CP will continue to use its competitive advantage via
Vancouver, Canada's largest port
of entry, leveraged by CP's shortest routes and its best-in-class
service to the U.S. Midwest.
"Simply put, we have fixed the engine and are now focused on
sustainable growth and best serving our customers," Creel said.
Forward Looking Statement
This news release contains certain forward-looking information
within the meaning of applicable securities laws relating, but not
limited, to the implementation and results of CP's sales and
marketing initiatives, operations, priorities and plans,
anticipated performance, business prospects, 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 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. CP-IR
SOURCE Canadian Pacific