?As Canadian Pacific Railway Limited (CP) continues to develop its total transportation product, the company launched today a brand new service offering called CP TempPro™, for customers shipping perishable products. This offering will allow CP the opportunity to grow the company's book of business with perishable protective service (PPS) customers.
Focused on transporting products that require strict temperature settings, CP's growing fleet of PPS is one of the largest and most advanced in the industry. CP TempPro™ ensures that customers' products are transported in a reliable, fuel-efficient temperature-controlled environment.
In 2017, CP announced the purchase of 41 gensets to better serve its international customers. These gensets also support the new reefer domestic repositioning program (reefer DRP), which creates new shipping options for our domestic customers and provides improved round trip economics for our international shippers. In 2018, CP will invest in over 400 new 53' reefers to support the growing temperature-control market. CP will also be the first to offer Thermo King's SLXi-DRC model which features a slimmer design, allowing for two additional pallet positions in a shipment. The SLXi-DRC also utilizes a greener refrigerant, R-452A, which decreases global warming potential over its predecessor, the R-404A. In addition, CP is purchasing over 350 53' heater units. Combined, these investments will support CP TempPro™.
"CP is committed to giving our customers everything they need as one total transportation product, which is why CP TempPro™ is a great addition to our roster of services," said Jonathan Wahba, Vice-President, Sales and Marketing, Intermodal and Automotive. "Great customer service is imperative to what we do at CP. We have listened to our customers and have learned that efficient, timely and reliable access to our network is paramount to expanding their business, and ours."
CP's fluid and reliable domestic intermodal network also boasts the shortest routes to key markets, including Toronto to Vancouver and Calgary. Throughout 2017, CP made significant investments in its broader intermodal franchise, which is now complemented with a variety of upgrades such as the Portal, North Dakota Live Lift, CP FastPass and enhanced transload services. CP also offers the most direct intermodal service from Vancouver to Detroit and direct service from Vancouver to the Ohio Valley.
Forward Looking Statements
This news release contains certain forward-looking information within the meaning of applicable securities laws relating, but not limited, future service offerings, shipping offerings and future investment. This forward-looking information 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 "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Information" in CP's annual and interim reports on Form 10-K and 10-Q. 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.
About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts, 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 CP.
Source: Canadian Pacific