CPKC moves to restart rail operations following CIRB order
CPKC will fully comply with the CIRB order. As such, CPKC is ending the lockout initiated on
Our team is executing its restart plan for the safe and orderly resumption of rail service across
The CIRB will be convening a case management meeting with the parties
As specified in the CIRB's order, the existing collective agreements between the company and the union are in force.
The CIRB's order was issued following the Canadian Minister of
CPKC looks forward to welcoming all of our Canadian locomotive engineers, conductors, yardpersons and dispatchers back to work. We are focused on restoring our railway to full strength as we get back to serving our customers and moving
The CIRB order ends months of unnecessary uncertainty and disruption for the Canadian economy and North American supply chains. We anticipate it will take several weeks for the railway network to fully recover from this work stoppage and a period of time beyond that for supply chains to stabilize.
Forward looking information
This news release contains certain forward-looking information within the meaning of applicable securities laws in both the
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, CPKC'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 CPKC; 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 CPKC with securities regulators in
About CPKC
With its global headquarters in
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SOURCE CPKC