19:54:57 EDT Thu 16 May 2024
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CA



Canadian Pacific Kansas City Ltd
Symbol CP
Shares Issued 931,059,385
Close 2023-05-29 C$ 104.92
Market Cap C$ 97,686,750,674
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CP Kansas adds 1,000 reefers to Mexico-Midwest service

2023-05-30 09:23 ET - News Release

Mr. Jonathan Wahba reports

CPKC ADDS 1,000 REEFERS TO EXPANDING MMX SERVICE

Canadian Pacific Kansas City Ltd. will add 1,000 new, 53-foot, refrigerated intermodal containers to its network, more than doubling Canadian Pacific Kansas City's existing fleet and bringing more shipping options to customers using the expanding Mexico-Midwest Express (MMX) series premium intermodal service.

MMX is North America's first single-line rail service offering for refrigerated shippers from the Midwest to Mexico, a market currently served by trucks. Single-line haul efficiencies, combined with seamless cross-border service, make Canadian Pacific Kansas City intermodal transit times competitive with over the road trucks. Converting trucks to rail reduces emissions and makes highways safer, another realization of the benefits of the Canadian Pacific Kansas City combination.

"Since being launched on May 11, MMX has provided truck-competitive service, delivering exactly what we promised and executing what many said could not be done," said Jonathan Wahba, Canadian Pacific Kansas City senior vice-president sales and marketing, bulk and intermodal. "We're providing customers with the fastest transit times in the rail industry and this expansion of our state-of-the-art reefer equipment gives more customers the solution they need to convert to rail."

The average intermodal train takes more than 300 trucks off the road with 75-per-cent fewer greenhouse gas emissions than trucks. Freight trains are four times more fuel efficient than trucks and can move a ton of freight 500 miles on one gallon of fuel.

The new refrigerated containers are part of Canadian Pacific Kansas City's TempPro solutions, ensuring products that require temperature protection are transported safely in a fast, reliable and fuel-efficient service that brings optionality and more competition to North American supply chains.

The MMX temperature-controlled service will move fresh and frozen produce, baked goods, candy and other food products northbound, and beef, chicken and pork to southern markets.

The MMX series debuted May 11 with trains now linking Chicago, Kansas City, Texas markets, Monterrey and San Luis Potosi. MMX trains offer third-day service to/from Laredo, fourth-day service to/from Monterrey and 4.5-day service to/from San Luis Potosi. MMX provides transit time of 98 hours from Chicago to San Luis Potosi -- a day faster than the nearest competitor.

In April, Canadian Pacific Kansas City announced new multiyear agreements with Schneider and Knight-Swift Transportation for intermodal transportation services along the Canadian Pacific Kansas City single-line north-south corridor.

Canadian Pacific Kansas City is working with customers and investing in infrastructure to unlock the full potential of the newly combined network, while continually advancing industry-leading safety and sustainability practices.

About Canadian Pacific Kansas City Ltd.

With its global headquarters in Calgary, Alta., Canada, Canadian Pacific Kansas City is the first and only single-line transnational railway linking Canada, the United States and Mexico, with unrivalled access to major ports from Vancouver to Atlantic Canada to the Gulf of Mexico to Lazaro Cardenas, Mexico. Stretching approximately 20,000 route miles and employing 20,000 railroaders, Canadian Pacific Kansas City provides North American customers unparalleled rail service and network reach to key markets across the continent. Canadian Pacific Kansas City is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise.

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