Over the past two days, Canadian Pacific (TSX: CP) (NYSE: CP) brought together short line railroads and transload operators to nurture collaboration and develop efficient service offerings to customers, with the goal of fostering sustainable, profitable growth.
Building on the success of the 2018 Reconnect Conference, representatives of more than 50 companies were at CP's Calgary headquarters for Connect 2019.
"Our short line and regional connections, and transload operators are key extensions of the CP business that allow us the scalable reach to new markets and optionality for our customers," said John Brooks, Executive Vice-President and Chief Marketing Officer, CP. "Our terminal capacity and strategic land holdings are unique to CP, providing increased optionality for this segment of the transportation supply chain. Our goal in bringing together these companies annually is to find efficiencies and opportunities, something of critical importance in today's economic climate."
CP works with an extensive network of short line railroads and regional connectors, giving access to almost any North American location, well beyond the reach of CP's rail network. In addition, CP works with more than 100 transload facilities across North America to reach rail and non-rail served customers everywhere.
"Our transload alliance with CP at the Minneapolis Intermodal Terminal has been the key driver of our growth," said Revis Stephenson, President, Stone Arch Commodities. "CP brings innovative ideas and creativity to the table, and we look forward to finding ways to expand with CP that mutually benefits our businesses and customers."
The transload business unit is a critical area of focus and development for CP, with many unique opportunities to build on the company's franchise strengths to generate sustainable, profitable growth.
In addition to John Brooks, the sales and marketing senior leadership team of Joan Hardy, Vice-President, Grain and Fertilizers; Jonathan Wahba, Vice-President, Intermodal and Automotive; and Coby Bullard, Vice-President Merchandise and Energy, Chemicals and Plastics took part in the event.
"Our solid relationships with our Class 1 connections are part of the backbone to growth," said Brian Jonaitis, Director Business Development, Indiana Rail Road Company. "Connect 2019 is the poster platform to bring us together to grow the future."
This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information 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. This news release contains forward-looking information relating, but not limited to, the success of our business, our operations, priorities and plans, and anticipated financial and operational performance, including with respect to our ability to grow our transload business unit.
The forward-looking information contained in this news release is based on current expectations, estimates, projections and assumptions, having regard to CP's experience and its perception of historical trends, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to: foreign exchange rates, effective tax rates, land sales and pension income; North American and global economic growth; commodity demand growth; sustainable industrial and agricultural production; commodity prices and interest rates; performance of our assets and equipment; sufficiency of our budgeted capital expenditures in carrying out our business plan; our ability to complete our capital and maintenance projects on the timelines anticipated; applicable laws, regulations and government policies; the availability and cost of labour, services and infrastructure; market demand for CP's services; our ability to maintain our relationships with key third parties; and the satisfaction by third parties of their obligations to CP. Although CP believes the expectations, estimates, projections and assumptions reflected in the forward-looking information presented herein are reasonable as of the date hereof, there can be no assurance that they will prove to be correct.
Undue reliance should not be placed on forward-looking information as actual results may differ materially from those expressed or implied by forward-looking information. By its nature, CP's forward-looking information involves 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 associated with 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; geopolitical instability; changes in laws, regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; 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; trade restrictions or other changes to international trade arrangements; climate change; and various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, 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.
The forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides 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. CP-IR
Salem Woodrow 403-835-9005Salem_Woodrow@cpr.caAlert_MediaRelations@cpr.ca
Maeghan Albiston 403-319-3591