CP Rail reaches tentative deal with union

Fri Jul 17, 2009 5:22pm EDT
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OTTAWA (Reuters) - Canadian Pacific Railway Co said on Friday it has reached a tentative labor deal with the United Steelworkers union representing 1,100 Canadian clerical and intermodal workers.

No details were released pending a ratification vote on the three-year contract, which will run to December 31, 2012.

The last agreement, which expires December 31, 2009, provided wage and benefit improvements, along with provisions designed to retain and attract staff, the company said after workers voted in favor of that deal.

The carrier has no other bargaining under way, although it will be negotiating a new contract with unionized maintenance of way employees in Canada later this year.

CP shares closed down 72 Canadian cents at C$41.21 on the Toronto Stock Exchange on Friday.

($1=$1.11 Canadian)

(Reporting by Susan Taylor; editing by Rob Wilson)