Canadian Pacific Inks Multi-Year Contract Extension With Canadian Tire

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  • Canadian Pacific Railway Ltd CP and Canadian Tire Corp Ltd CDNAF entered a multi-year agreement to continue moving the retailer's goods in Canada. Deal terms were not disclosed.
  • The agreement establishes the ability for Canadian Tire to explore sourcing and optionality opportunities with CP's network reach.
  • To support the efficient movement of CTC's goods and reduce carbon emissions, CP will begin directly serving Ashcroft Terminal in Ashcroft, B.C., reducing the need to shift volumes to trucks.
  • Price Action: CP shares are trading higher by 0.42% at $71.72 and CDNAF at $141.61 on the last check Tuesday.
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