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Canadian Pacific Increases 2013 Capital Investment Program - Canadian Pacific announced the company will move forward certain capital spending projects originally targeted for 2014 into this year, funded by a higher than anticipated 2013 cash-flow projection (TSX: CP) (NYSE: CP) - CPR.ca
Canadian Pacific Increases 2013 Capital Investment Program

 

PRZOOM - /newswire/ - Calgary, Alberta, Canada, 2013/05/07 - Canadian Pacific announced the company will move forward certain capital spending projects originally targeted for 2014 into this year, funded by a higher than anticipated 2013 cash-flow projection (TSX: CP) (NYSE: CP) - CPR.ca. TSX, NYSE: CP

   
 
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As such, the company will be investing an additional $75 to $100 million into its 2013 capital investment program.

“As our railway continues to transform, we see opportunities to accelerate enhancements to key sections of our North American system,” said Chief Executive Officer, E. Hunter Harrison. “By taking these opportunities now to further improve our operations, we will be better positioned to respond to our customers’ shipping needs.”

The projects are primarily focused on productivity, safety and efficiency, highlighted by the following:
• Advance track upgrade work on the North Main Line between Winnipeg and Edmonton;
• Upgrades to signaling systems on CP’s main line between Moose Jaw and Chicago, which will improve productivity and increase capacity to meet shipping growth;
• Achieve further expense savings and strengthen the balance sheet by opportunistically acquiring core assets that would otherwise be leased.

In December 2012, CP announced 2013 capital spending of up to $1.1 billion.

About Canadian Pacific

Canadian Pacific (cpr.ca) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise.

Contact
Nadeem Velani, Investment Community
T: 403-319-3591 - E: investor[.]cpr.ca.

 
 
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Agency / Source: Canadian Pacific Railway

 
 

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Canadian Pacific Increases 2013 Capital Investment Program

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Canadian Pacific |
Contact: Ed Greenberg - CPR.ca 
612-849-4717 / 855-242-3674 ed_greenberg[.]cpr.ca
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Canadian Pacific Railway securities in any jurisdiction including any other companies listed or named in this release.

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