CP has been given the green light in its takeover of Kansas City Southern Railway.
The US$31 billion purchase will create the first single rail line connecting Canada, the U.S. and Mexico covering nearly 33,000 kilometres of track.
The merged railway will be known as Canadian Pacific Kansas City (CPKC), with CP's chief executive Keith Creel as CEO, and Calgary as the global headquarters.
CP's assistant vice-president of sales and marketing for Canadian grain, Elizabeth Hucker says the new CPKC will benefit Canadian grain shippers by opening new markets and ports.
"A combined CPKC will connect North America through a unique rail network able to enhance competition, provide improved reliable rail service, take trucks off public roads, and improve rail safety by expanding CP's industry-leading safety practices. The combination will also provide new long haul routes, extend our market reach and create expanded shipping opportunities for customers."
This week's decision allows CP to exercise control of KCS as early as April 14, 2023.
In the last two weeks, grain shipment weeks 31 and 32 CP has moved more than a million metric tonnes of grain and grain products.
Hucker notes that brings CP's grain movement year-to-date to more than 17.5 million metric tonnes.
"We're continuing to see strong volumes heading from the country to the ports for export, and continually meeting or exceeding performance targets that we set out in our grain plan for the government."
She notes in the past couple of weeks grain companies have started moving shipments out to Thunder Bay to fill silos in anticipation of the opening of the Port.
To hear Glenda-Lee's conversation with CP's assistant vice-president of sales and marketing for Canadian grain, Elizabeth Hucker click on the link below.