Canadian Pacific Acquires Steelcare Inc.


CALGARY - Canadian Pacific Railway Limited (TSX:CP) (NYSE:CP) has acquired Steelcare Inc., Canada's largest steel transload facility.



"CP is committed to exceptional customer service and with direct ownership of Steelcare, we are better equipped to manage our own supply chain and utilize our in-house expertise," said James Clements, CP Vice President of Strategic Planning and Transportation Services.



Steelcare is a transload and distribution hub providing superior transloading, warehousing and distribution services of steel products. Steelcare's Plant Six facility in CP's Aberdeen yard in Hamilton, Ontario, is a 168,000-square-foot facility featuring two drive-through rail and truck loading and unloading areas. Steelcare is able to handle up to 1.5 million tons of rail transload product in a given year. The transaction includes TransCare Logistics Corporation, Prometheus Six Inc. and East Port Warehousing Distribution.



Projected yearly revenue as a result of the transaction is approximately $10 million.



The intent is to keep the current management structure and employees in place. Clements will also serve as Steelcare's Executive Vice President.



About Canadian Pacific



Canadian Pacific (TSX:CP)(NYSE:CP) 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 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 Canadian Pacific.



SOURCE Canadian Pacific



CONTACT:



Media

Jeremy Berry

403-319-6227

24/7 Media Line 1-855-242-3674

Jeremy_Berry@cpr.ca



Investment Community

Nadeem Velani

Tel: 403-319-3591

investor@cpr.ca

All Topics