Canadian Pacific Railway said Thursday it has reached agreement with Canadian Tire Corp. Ltd., which extends to early 2017 and awards the railway with the vast majority of Canadian Tire's domestic container traffic.
CP said the agreement builds on the shared successes the companies have had in efficiently servicing Canadian Tire's dealers and corporate stores. Recent rail network enhancements completed at CP, and the work already underway to further maximize efficiencies through a facility co-location strategy, will allow the companies to continue to develop and improve the supply chain for Canadian Tire's growing retail business.
"We're delighted to renew our longstanding partnership with CP," said Pat Sinnott, executive vice-president, Supply Chain and Technology, Canadian Tire Corp. "We rely on rail extensively to get our goods to market. 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."
"Our railway has been serving Canadian Tire, one of our largest intermodal customers, for more than eight decades and we will continue to execute on our solid operating plan to foster growth opportunities for both companies," said CP CMO and EVP Marketing & Sales Jane O'Hagan.