CP receives notice of Teamsters Canada Rail Conferences' intent to strike

CALGARY, Feb. 10, 2015 /CNW/ - Despite Canadian Pacific's (TSX: CP) (NYSE: CP) best efforts to reach an agreement with Teamsters Canada Rail Conference-Running Trades (TCRC), the union has provided official notice of its intent to strike the company in the event there is not a negotiated settlement. This group represents more than 3,000 active locomotive engineers and conductors at CP.

A work stoppage can occur as early as 12:01 a.m. on February 15, 2015.

"CP's offers included wage increases, better benefit plans, and the re-instatement of the Employee Share Purchase Plan in a long-term agreement," said Peter Edwards, Vice-President, Human Resources and Labour Relations. "We also proposed a model that will improve the scheduling of regular time off and quality of life while enhancing our service and efficiency, but the union has not been interested."

CP asked the TCRC to start bargaining on a new contract in December 2013, a full year before it was set to expire. And despite the union's earlier commitment to consider protecting grain shipments and commuter service in Montreal, it appears now that will not be the case.

"Canadian Pacific is committed to finding a workable solution with the union and continues to bargain in good faith," Edwards said.

Subject to the union's decision to strike, which could be as early as February 15 at 12:01 a.m., CP will implement its extensive contingency plan by deploying qualified management employees to maintain a reduced freight service on its Canadian network. CP will work with its customers to advise them on how this work stoppage will affect them.

There are five long-term collective agreements in place between CP and its Canadian unions, including two with Teamsters unions. Our Rail Traffic Controllers (TCRC-RTC), International Brotherhood of Electrical Workers (IBEW), Teamsters Maintenance of Way employees (TCRC-MWED), Police (CPPA) and United Steel Workers (USW) have all ratified long-term deals with acceptance rates between 90 and 97.5 percent.

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

For further information: Contacts: Media: Martin Cej, Tel: 403-319-7298, email: martin_cej@cpr.ca, 24/7 Media Pager: 855-242-3674; Investment Community: Nadeem Velani, Tel: 403-319-3591, email: investor@cpr.ca

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