BRIEF-CP Railway reviews Q1 results, outlook

Wed Apr 24, 2013 12:23pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO, April 24 (Reuters) - Canadian Pacific Railway Ltd : * Could eliminate up to 6,000 positions, initial forecast of 4,500 "not the

ceiling", CEO says * C$50 million infrastructure spending driven mainly by crude-by-rail

opportunities, already on books, CEO says * Most crude-by-rail new opportunities not on main lines, "some catch up to do

there," CEO says * Heavy crude is a "real opportunity" in near term, says chief Marketing

officer * Expects to eliminate about 4,000 positions by end of year, CEO says * I don't see any bumps in the road" with labor in next 3-4 years, 5 agreements

with unions signed, one remains with caw, CEO says * Strong interest" for portion of dm&e railroad put on block in December, now

reviewing preliminary expressions of interest, CFO