CALGARY, Sept. 29, 2015 /CNW/ - Canadian Pacific Railway Limited
(TSX:CP) (NYSE: CP) has acquired Steelcare Inc., Canada's largest steel
"CP is committed to exceptional customer service and with direct
ownership of Steelcare, we are better equipped to manage our own supply
chain and utilize our in-house expertise," said James Clements, CP Vice
President of Strategic Planning and Transportation Services.
Steelcare is a transload and distribution hub providing superior
transloading, warehousing and distribution services of steel products.
Steelcare's Plant Six facility in CP's Aberdeen yard in Hamilton,
Ontario, is a 168,000-square-foot facility featuring two drive-through
rail and truck loading and unloading areas. Steelcare is able to handle
up to 1.5 million tons of rail transload product in a given year. The
transaction includes TransCare Logistics Corporation, Prometheus Six
Inc. and East Port Warehousing & Distribution.
Projected yearly revenue as a result of the transaction is approximately
The intent is to keep the current management structure and employees in
place. Clements will also serve as Steelcare's Executive Vice
Forward Looking Statement
This news release contains certain forward-looking information within
the meaning of applicable securities laws relating, but not limited, to
the anticipated benefits of the transaction and future business plans.
This forward-looking information also 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
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 "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
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