CP to formally pitch for control of BC Rail

CALGARY (May 21, 2003) — Canadian Pacific Railway has announced it will file a formal expression of interest to purchase BC Rail in the next 10 days.

The British Columbia government is requesting proposals for a private-sector partner to take over operation of Canada’s third-largest railway. In a news release, CP Rail said its extensive track connections to other carriers “offer shippers and communities on BC Rail more gateways to North American markets than any other railway.”

The company also said its track record in forming successful alliances with other carriers make it an ideal candidate to restructure BC Rail.

“We strongly believe we can leverage our network of rail lines, connections and alliances to meet their needs and to achieve sustainable efficiencies for BC Rail,” CP’s president and chief executive Rob Ritchie said in the release.

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