CP, TCRC-Train & Engine and IBEW take significant steps forward, avoid work stoppage

​Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) has reached an agreement with both the Teamsters Canada Rail Conference-Train & Engine (TCRC) and the International Brotherhood of Electrical Workers (IBEW), which averts the potential work stoppage of 12:01 am Eastern time tomorrow, April 21, 2018.

On the recommendation of federal mediators, the Minister of Labour will direct the Canadian Industrial Relations Board to administer a ratification vote on each of the company’s final offers to the TCRC and IBEW.

“I want to thank the leadership of the TCRC, IBEW, and Federal Mediation and Conciliation Service for their hard work, collaboration and openness to getting this situation resolved without a work stoppage,” said Keith Creel, CP President and CEO. “This is tremendous news for our employees, our customers and the Canadian economy.”

CP will immediately begin to execute a safe and structured start-up of its train operations in Canada. As a result of today’s announcement, there will be no disruption to the commuter rail companies operating on CP’s network and CP will be able to continue to provide safe and efficient freight service for our customers.

There are approximately 3,000 conductors and engineers represented by the TCRC. Approximately 360 signal maintainers are represented by the IBEW.

No further details will be made available at this time.
http://www.cpr.ca/en/media/cp-tcrc-train-engine-and-ibew-take-significant-steps-forward-avoid-work-stoppage

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