CP Rail gets Canadian Tire contract extension; to carry containers till 2017

CALGARY – Canadian Pacific Railway Ltd. (TSX:CP) has extended a contract with Canadian Tire Corp. (TSX:CTC.A) to transport “the vast majority” of the big retailer’s domestic container traffic until early 2017.

The value of the contract was not disclosed.

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“We’re delighted to renew our long-standing partnership with CP,” said Pat Sinnott, Canadian Tire’s executive vice-president, supply chain and technology.

“Rail is the most efficient and sustainable way to move our products and CP is a trusted partner that will enable us to continue to deliver products reliably to over 1,700 Canadian Tire, Mark’s and FGL Sports retail locations across the country.”

Jane O’Hagan, CP Rail’s executive vice-president for marketing and sales, said Canadian Tire is one of the railway’s biggest inter modal customers.