CALGARY, March 16, 2017 /CNW/ - Canadian Pacific (TSX:CP)
(NYSE:CP) and the United Steelworkers (USW) Local 1976 announced today that they have reached a tentative five-year labour
agreement covering approximately 600 administrative support and intermodal employees in Canada.
The current contract expires Dec. 31, 2017.
"I would like to congratulate this union for its constructive negotiating and leadership at the bargaining table," said
Keith Creel, CP's President and Chief Executive Officer. "This agreement reflects a shared vision
for the future success of this company and is an acknowledgement of the important work of our support staff personnel and
intermodal employees in writing the next chapter of the CP story."
Details of the tentative agreement are being withheld pending ratification by the USW Local 1976 membership.
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 CP.
Forward Looking Statement
This news release contains certain forward-looking information within the meaning of applicable securities laws relating, but
not limited, to the ratification of and the anticipated future benefits of the agreement. This forward-looking information
may also include, 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 "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.
SOURCE Canadian Pacific
To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/March2017/16/c4809.html