MONTREAL, Sept. 21, 2011 /PRNewswire/ - The President and Chief Executive Officer of Canadian Pacific (TSX: CP) (NYSE: CP) says world trade patterns are migrating, but through investments and effective supply chain collaboration, the 130-year old company is preparing for more growth with its customers.
"Canadian Pacific is investing with our customers for service reliability and productivity to further drive future growth," said Green. "The export market is growing and we are well positioned to handle forecast demand while, at the same time, contributing to improvements in the overall supply chain by reducing dwell and maximizing throughput."
Speaking to the Canada Maritime Conference in Montreal, Green outlined CP's approach:
- Increased resources with the hiring of 3,300 new employees and the addition of 91 locomotives in 2011 and 2012
- Enhanced customer service and real-time shipping information
- In 2011, spending over $1 billion in capital investment, with strong spending for the next several years, which includes new sidings and extensions
- Longer trains with distributed power for safer and more efficient operations
- Transportation contracts with commercial service agreements signed with supply chain partners
- Investing in predictive technology resulting in improved service times across its network
"CP's commitment is to provide the products and services that will enable our customers to grow their businesses at home and globally," added Green.
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Note on forward-looking information This news release contains certain forward-looking statements relating but not limited to our operations, anticipated financial performance and business prospects. Undue reliance should not be placed on forward-looking information as actual results may differ materially.
By its nature, CP's forward-looking information involves numerous assumptions, inherent risks and uncertainties, 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 laws and regulations, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; uncertainties of 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, including long-term floating rate notes; and various events that could disrupt operations, including severe weather conditions, security threats and governmental response to them, and technological changes.
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) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit cpr.ca and see how Canadian Pacific is Driving the Digital Railway.
SOURCE Canadian Pacific