Canadian Pacific Kansas City Ltd 8-K, filed Oct 20, 2020
Canadian Pacific Kansas City Ltd (CP)
8-K
2020-10-20
For: 2020-10-19
View Original
Added on
April 11, 2026
About this 8-K
Canadian Pacific Kansas City Ltd filed this 8-K on October 20, 2020, reporting on events of October 19, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
Canadian Pacific Railway Limited
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Canada,
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Shares, without par value, of Canadian Pacific Railway Limited |
CP | Toronto Stock Exchange | ||
Perpetual 4% Consolidated Debenture Stock of Canadian Pacific Railway Company |
BC87 | London Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 8.01. | Other Events. |
On October 19, 2020, Canadian Pacific Railway Limited (the “Corporation”) issued a press release announcing a strategic, multi-year rail agreement with A.P. Moller - Maersk to move freight through the ports of Vancouver and Montreal. A copy of this press release is attached as Exhibit 99.1.
| ITEM 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Exhibit Description | |
| Exhibit 99.1 | Press Release dated October 19, 2020. | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
EXHIBIT INDEX
| Exhibit No. | Exhibit Description | |
| Exhibit 99.1 | Press Release dated October 19, 2020. | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: October 19, 2020 | ||||
| CANADIAN PACIFIC RAILWAY LIMITED | ||||
| By: | /s/ Nizam Hasham | |||
| Name: | Nizam Hasham | |||
| Title: | Assistant Corporate Secretary | |||
EXHIBIT 99.1
Release: October 19, 2020
CP announces strategic, multi-year rail agreement with A.P. Moller - Maersk
Calgary, AB – Today, Canadian Pacific Railway
Limited (TSX: CP) (NYSE: CP) is announcing a strategic, multi-year rail agreement with A.P. Moller - Maersk to move freight through the ports of Vancouver and Montreal. The agreement is further to the September 15 announcement regarding the construction of a new, world-class transload and distribution facility in Vancouver to expand CP's and Maersk Canada's supply chain options for
customers.
"We are proud to provide safe and efficient rail service to the world’s largest shipping company, and with Maersk we see a strong relationship developing,” said CP’s President and CEO Keith Creel. “Today’s news coupled with the announcement of the Vancouver transload facility back in September are evidence of the power of our operating model, our people and of our shared commitment to sustainable growth. Furthermore, our unique land holdings and co-location opportunities, network advantages and commitment to service excellence continue to create win-win scenarios and capacity for our customers and the broader supply chain.”
The strategic relationship is expected to result in CP moving Maersk traffic on March 1, 2021 and applies to both dry and refrigerated cargo. The rail agreement in combination with the previously announced transload facility show that CP and Maersk are committed to sustainability across the supply chain, while providing effective and efficient intermodal solutions for customers.
"We are proud to provide safe and efficient rail service to the world’s largest shipping company, and with Maersk we see a strong relationship developing,” said CP’s President and CEO Keith Creel. “Today’s news coupled with the announcement of the Vancouver transload facility back in September are evidence of the power of our operating model, our people and of our shared commitment to sustainable growth. Furthermore, our unique land holdings and co-location opportunities, network advantages and commitment to service excellence continue to create win-win scenarios and capacity for our customers and the broader supply chain.”
The strategic relationship is expected to result in CP moving Maersk traffic on March 1, 2021 and applies to both dry and refrigerated cargo. The rail agreement in combination with the previously announced transload facility show that CP and Maersk are committed to sustainability across the supply chain, while providing effective and efficient intermodal solutions for customers.
Note on forward-looking information
This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information")
within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions,
and results of operations or performance. Forward-looking information may contain statements with words or headings such as "will", "anticipate", "believe", "expect", "plan", "should" or similar words suggesting future outcomes.
This news release contains forward-looking information relating, but not limited to, our operations, priorities and plans, the anticipated
timely performance by us and A.P. Moller - Maersk of our respective obligations, planned capital investments including the development of a new import transload facility in the Vancouver area, the anticipated timing, impacts and benefits of such
planned relationship with Maersk and of the anticipated capital investments including on CP's operations and prospects.
The forward-looking information contained in this news release is based on current expectations, estimates, projections and assumptions, having
regard to CP's experience and its perception of historical trends, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to: North American and global economic growth; commodity demand growth; agricultural
production; commodity prices and interest rates; performance of our assets and equipment; sufficiency of our budgeted capital expenditures in carrying out our business plan; our ability to complete our capital and maintenance projects on the
timelines anticipated; applicable laws, regulations and government policies; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to CP; the anticipated impacts of the novel strain
of coronavirus (and the disease known as COVID-19); and capital investments by
Undue reliance should not be placed on forward-looking information as actual results may differ materially from those expressed or implied by
forward-looking information. By its nature, CP's forward-looking information involves inherent risks and uncertainties that could cause actual results to differ materially from the forward looking information, including, but not limited to, the
following factors: changes in business strategies; general North American and global economic, credit and business conditions; risks associated with agricultural production, such as weather conditions and insect populations; the availability and
price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; changes in commodity prices; uncertainty surrounding timing and volumes of commodities being shipped via CP; inflation; changes
in laws, regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; uncertainties of investigations, proceedings or other types
of claims and litigation; labour disputes; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; trade restrictions or
other changes to international trade arrangements; climate change; various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, as well as security threats
and governmental response to them, and technological changes; and the pandemic created by the outbreak of the novel strain of coronavirus (and the disease known as COVID-19) and resulting effects on economic conditions, the demand environment for
logistics requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions, and disruptions to global supply chains. The foregoing list of
factors is not exhaustive. These and other factors are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States. Reference should be made to "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations - Forward-Looking Statements" in CP's annual and interim reports on Form 10-K and 10-Q.
The forward-looking information contained in this news release is made as of the date hereof. Except as
required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future
events or otherwise.
About Canadian Pacific
About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North
American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca
to see the rail advantages of CP. CP-IR
CP contacts:
Media
Salem Woodrow
24/7 media pager: Alert_MediaRelations@cpr.ca
24/7 media pager: Alert_MediaRelations@cpr.ca
Salem_Woodrow@cpr.ca
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Investment Community
Maeghan Albiston
403-319-3591
investor@cpr.ca
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