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.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.