Friday, August 23, 2024 Canadian Pacific Kansas City announced that, in response to an order from the Canadian Minister of Labour under section 107 of the Canada Labour Code, the Canada Industrial Relations Board (CIRB) scheduled an immediate case management meeting with CPKC for 9:00 p.m. ET today.
CPKC was ready to thoroughly discuss the restoration of services, highlighting its clear importance. The Teamsters Canada Rail Conference (TCRC), representing both the Train and Engine division and the Rail Canada Traffic Controller division, has declined to engage in discussions to restart service. Instead, they plan to present arguments challenging the constitutional validity of the Minister’s directive and the Canadian Industrial Relations Board’s (CIRB) authority to issue any mandates.
Consequently, another case management meeting has been scheduled for 10:00 a.m. ET on Friday, Aug.
23, to address these submissions. Despite instructions from the Minister for the CIRB to act swiftly, any determinations regarding service resumption are postponed. CPKC stands ready to recommence operations immediately upon receiving the CIRB’s command.
CPKC expresses frustration over this postponement, noting its impact on the company’s ability to contribute to the Canadian economy. This press release provides forward-looking statements as defined under relevant securities legislation in the U.S.
and Canada. It includes predictive content about ongoing negotiations between CPKC and its labor unions, potential interruptions in work, and general business, operational, and service aspects of CPKC. The forward-looking statements also encompass projections and opinions regarding the company’s future plans, targets, beliefs, expected performance and anticipated events or financial conditions.
Language indicative of future results may include terms like “anticipated financial outcomes,” “foundational expectations,” “project,” “foresee,” “aim,” “intend,” “future outlook,” “expected,” or other similar expressions..
