CALGARY, Sept. 29, 2015 /PRNewswire/ - Canadian Pacific
Railway Limited (TSX:CP) (NYSE:CP) has acquired Steelcare Inc.,
Canada's largest steel transload
facility.
"CP is committed to exceptional customer service and with direct
ownership of Steelcare, we are better equipped to manage our own
supply chain and utilize our in-house expertise," said James Clements, CP Vice President of Strategic
Planning and Transportation Services.
Steelcare is a transload and distribution hub providing superior
transloading, warehousing and distribution services of steel
products. Steelcare's Plant Six facility in CP's Aberdeen yard in Hamilton, Ontario, is a 168,000-square-foot
facility featuring two drive-through rail and truck loading and
unloading areas. Steelcare is able to handle up to 1.5 million tons
of rail transload product in a given year. The transaction includes
TransCare Logistics Corporation, Prometheus Six Inc. and East Port
Warehousing & Distribution.
Projected yearly revenue as a result of the transaction is
approximately $10 million.
The intent is to keep the current management structure and
employees in place. Clements will also serve as Steelcare's
Executive Vice President.
Forward Looking Statement
This news release contains certain forward-looking information
within the meaning of applicable securities laws relating, but not
limited, to the anticipated benefits of the transaction and future
business plans. 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: the ability to recognize the
benefits of the transaction; 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
"Management's Discussion and Analysis" in CP's annual and interim
reports, Annual Information Form and Form 40-F. 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 Canadian Pacific.
SOURCE Canadian Pacific