Targeting enhancements to network in Canada and United States
CALGARY, May 7, 2013 /CNW/ - Canadian Pacific (TSX: CP) (NYSE: CP) today
announced the company will move forward certain capital spending
projects originally targeted for 2014 into this year, funded by a
higher than anticipated 2013 cash-flow projection. As such, the company
will be investing an additional $75 to $100 million into its 2013
capital investment program.
"As our railway continues to transform, we see opportunities to
accelerate enhancements to key sections of our North American system,"
said Chief Executive Officer, E. Hunter Harrison. "By taking these
opportunities now to further improve our operations, we will be better
positioned to respond to our customers' shipping needs."
The projects are primarily focused on productivity, safety and
efficiency, highlighted by the following:
Advance track upgrade work on the North Main Line between Winnipeg and
Upgrades to signaling systems on CP's main line between Moose Jaw and
Chicago, which will improve productivity and increase capacity to meet
Achieve further expense savings and strengthen the balance sheet by
opportunistically acquiring core assets that would otherwise be leased
In December 2012, CP announced 2013 capital spending of up to $1.1
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 a low-cost provider that 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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