CP discusses operating plan for Arbutus corridor with City of Vancouver

CALGARY, July 10, 2015 /CNW/ - Canadian Pacific met today with officials from the City of Vancouver to discuss CP's operating plan for the Arbutus corridor rail line.

The corridor, which runs from False Creek to the Fraser River in Vancouver, is the property of CP and zoned by the city for transportation. CP has upgraded its track and land and is working with Transport Canada on the timely resumption of safe operations.

"This rail corridor is zoned by the city expressly for transportation, so that is what we must use it for," said Mark Wallace, Vice President Corporate Affairs and Chief of Staff. "The Arbutus corridor is a valuable but under-utilized asset for CP and it is our responsibility to use all our assets safely and efficiently."

The company has advised local residents, schools and businesses that the line will soon be used to store railcars, which will improve efficiency and fluidity elsewhere on the network. In the interest of public safety, CP reminds residents, pedestrians and cyclists to stay clear of the right-of-way as train movements can occur at any time of the day or night.

"CP is the industry leader in safety and we will operate this line safely, just as we do in all communities through which our network runs," Wallace said.

Note on forward-looking information

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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