CP, CTC Extend Contract

Canadian Pacific (CP) on Dec. 28 reported a multi-year contract extension with Canadian Tire Corporation, Ltd. (CTC).

CP said the agreement builds on the 90-plus years it has served CTC in Canada, and helps CTC “explore sourcing and optionality opportunities” within CP’s network.

To further support the movement of CTC products—from automotive to power tools to kitchenware, clothing and home décor items—the Class I railroad is also beginning direct service to Ashcroft Terminal in British Columbia, reducing the need to shift volumes to truck, it said.

“CP is proud to continue our near-century-long commercial relationship with Canadian Tire, another iconic Canadian brand,” said CP President and CEO Keith Creel, who is Railway Age’s 2022 Co-Railroader of the Year with Kansas City Southern President and CEO Patrick J. Ottensmeyer. “As the single largest container importer in Canada, CTC will benefit from CP’s leading service, reliability and network capacity across Canada.”

“As we embark on our 100th year in business, we are pleased to continue working together with CP to ensure our products move efficiently across the country to meet our customers’ needs,” CTC President and CEO Greg Hicks said. “Our commitment to operate as a sustainable Canadian brand aligns to CP’s efforts to reduce greenhouse gas emissions by creating efficiencies in the supply chain, and we look forward to collaborating on further initiatives to reduce carbon emissions in Canada.”