CALGARY, Dec. 8, 2014 /CNW/ - John Brooks, Canadian Pacific (TSX/NYSE: CP) Vice President Marketing and Sales, Bulk, today said the company continues to move more grain from North Dakota to key markets domestically and internationally as it invests in its network.
"The CP team is focused on investing more, moving more and working with all stakeholders to strengthen the supply chain," said Mr. Brooks.
Mr. Brooks joined officials from the U.S. Surface Transportation Board, U.S. Department of Agriculture, North Dakota Corn Growers Association and other grain shippers, academic experts in agribusiness and industry peers at the "Post-harvest Handling and Transportation for Agricultural Products: Issues and Challenges" conference in Fargo, N.D. The symposium was hosted by North Dakota State University's Center for Agriculture Policy and Trade Studies, and organized by U.S. Senators Heidi Heitkamp (D) and John Hoeven (R) of North Dakota.
"It's a privilege to take part in an open forum with such distinguished participants from the public and private sectors to discuss the issues and opportunities in transporting grain in North America," added Mr. Brooks. In Mr. Brooks' remarks at the conference, he highlighted the following key points:
- CP is well positioned to move grain with its rail partners to the East and West markets
- CP plans to invest over $500 million in infrastructure on its upper plains network between 2014 and 2016
- Every component of the supply chain must work together to move more grain; CP is open for business 24/7
- CP's current grain performance is robust. Record levels of grain were moved to the Pacific Northwest in October
- Asset velocity will be a key in driving sustainable growth with its customers
CP is working with customers to enhance transparency of car supply and predictability of service. Among other initiatives, the company has developed a dedicated train car program for its larger shippers and for smaller producers, implemented a flexible, open distribution system. These innovations, along with ongoing investment in people and infrastructure, show CP's commitment to customers, competition and growth throughout the region.
Note on forward-looking information
This news release contains certain forward-looking information within the meaning of applicable securities laws relating, but not limited to our operations, priorities and plans, anticipated financial performance, business prospects, planned capital expenditures, programs and strategies. 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 outcomes.
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: 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. While not anticipated at this time, CP will not comment further if conversations with CSX or any other party resume in the future unless required to do so by law.
About Canadian Pacific
Canadian Pacific (TSX/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 www.cpr.ca to see the rail advantages of Canadian Pacific.
SOURCE: Canadian Pacific
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