MINNEAPOLIS, July 29, 2015 /PRNewswire/ - Canadian Pacific (TSX: CP) (NYSE: CP)
is pleased to announce that a tentative five-year agreement has been
reached with the Brotherhood of Railway Carmen (BRC-TCU), a division of
the Transportation and Communications Union/International Association
of Machinists. The BRC represents employees on its wholly owned
subsidiary, Soo Line Railroad Company.
Full details of the tentative agreement are being withheld pending
ratification by the BRC membership.
"After months of negotiating, we have agreed on a deal that is fair to
all stakeholders," said Myron Becker, CP's Assistant Vice President,
Labor Relations. "We look forward to a successful ratification vote and
to working together with our BRC colleagues."
Note on forward-looking information
This news release contains certain forward-looking information within
the meaning of applicable securities laws relating, but not limited to,
the ratification of the agreement between the Company and the BRC. 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; labor 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