Canadian Pacific Kansas City Ltd 8-K, filed Sep 17, 2020
Canadian Pacific Kansas City Ltd (CP)
8-K
2020-09-17
For: 2020-09-14
View Original
Added on
April 11, 2026
About this 8-K
Canadian Pacific Kansas City Ltd filed this 8-K on September 17, 2020, reporting on events of September 14, 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 September 14, 2020, Canadian Pacific Railway Limited (the “Corporation”) issued a press release announcing the forthcoming opening of its new multi-commodity transload facility in Montréal. Additionally, on September 15, 2020, the Corporation issued a press release announcing that the Corporation and Maersk have reached an agreement to build and operate a world-class transload and distribution facility in Vancouver to expand the Corporation’s and Maersk Canada’s supply chain options for customers. Copies of these press releases are attached as Exhibits 99.1 and 99.2, respectively.
| ITEM 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Exhibit Description | |
| Exhibit 99.1 | Press Release dated September 14, 2020. | |
| Exhibit 99.2 | Press Release dated September 15, 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 September 14, 2020. | |
| Exhibit 99.2 | Press Release dated September 15, 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: September 17, 2020 | ||||
| CANADIAN PACIFIC RAILWAY LIMITED | ||||
| By: | /s/ Nizam Hasham | |||
| Name: | Nizam Hasham | |||
| Title: | Assistant Corporate Secretary | |||
EXHIBIT 99.1
Release: September 14, 2020
CP officially opens new multi-commodity transload facility in Montréal
Calgary – Canadian Pacific (TSX: CP) (NYSE: CP) will officially open its new multi-commodity transload facility in
Montréal tomorrow. The new facility will offer transloading services and supplementary intermodal transportation and distribution services from CP's Côte Saint-Luc yard, with more space available for future expansions to provide customers
with access to new markets. CP will operate the facility with TYT Group, a Québec-based freight transportation services provider.
The new rail-served facility features 118,000 square feet of customizable space designed to receive, unload, carry and
deliver rail traffic for various commodities. Surrounded by more than 4,000 feet of existing and adjacent track, the location is ideal for indoor or outdoor transloading operations to keep goods moving efficiently on and off rail and
throughout the broader supply chain.
“CP is building capacity and expanding our ability to serve customers by
providing reliable multi-commodity transload services and logistics solutions,” said Mike Mohan, Vice-President, Sales and Marketing, Regional Sales and Transload. “The site also offers 50 acres of additional expansion capacity so that we
can continue to extend CP’s reach to markets not directly served by rail.”
With easy access to the Montréal-Pierre Elliott Trudeau International Airport,
highways 15, 20, 13, and 520 and with close proximity to the Port of Montréal, the yard and terminal are strategically positioned to create supply chain efficiencies for CP and customers by allowing for faster, more flexible and more
reliable service.
To learn more about CP’s Montréal Advantage, click here.
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 "financial expectations",
"key assumptions", "anticipate", "believe", "expect", "plan", "will", "outlook", "should" or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited to, the success of our
business, our operations, priorities and plans, and anticipated financial and operational performance, including with respect to anticipated supply chain efficiencies for our customers and our ability to grow our transload business unit,
anticipated future capital investments, anticipated future demand for multi-commodity transload services and logistics solutions, and anticipated timely performance by third parties including TYT Group of their contractual obligations to
CP.
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; sustainable industrial and agricultural production; commodity prices and interest rates; performance of our assets and equipment; sufficiency of our budgeted capital expenditures in
carrying out our
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business plan; our ability to complete our capital and maintenance projects;
applicable laws, regulations and government policies; the availability and cost of labour, services and infrastructure; market demand for CP's services; our ability to maintain our relationships with key third parties; 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). Although CP believes the expectations, estimates, projections and assumptions reflected in the
forward-looking information presented herein are reasonable as of the date hereof, there can be no assurance that they will prove to be correct. Current conditions, economic and otherwise, render assumptions, although reasonable when
made, subject to greater uncertainty.
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; geopolitical instability; 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; effects of changes in market conditions and discount rates on the financial position of pension plans
and investments; trade restrictions or other changes to international trade arrangements; climate change; and various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes,
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 Information" 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
Canadian Pacific is a transcontinental railway in Canada and the U.S. 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
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Contacts:
Media
Salem Woodrow
403-835-9005
Salem_Woodrow@cpr.ca
Alert_MediaRelations@cpr.ca
Investment Community
Maeghan Albiston
403-319-3591
investor@cpr.ca
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EXHIBIT 99.2
 |
 |
Release: September 15, 2020
CP and Maersk reach
agreement that will benefit North American customers and the environment
Calgary - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) and Maersk have reached an agreement to build and operate a world-class transload and distribution facility in Vancouver to expand
CP’s and Maersk Canada’s supply chain options for customers. The CP transload facility will be an expansion of CP’s existing Vancouver Intermodal Facility and thus will benefit from turnkey rail infrastructure.
The transload facility is designed to apply Maersk’s global integrator of container logistics strategy and will offer
customers access to a multi-commodity transload facility that will rely on the substantial use of rail instead of truck in the Vancouver market, as CP will shuttle containers to and from the ocean terminals via rail. Maersk’s ambition to
establish a sustainable supply chain aligns with CP’s initiatives to fight climate change. This compelling combination will provide an effective and efficient long-term intermodal solution for customers.
“CP’s unique landholdings in Vancouver enable us to bring to market a first-of-its-kind transload facility that creates
tremendous opportunity for sustainable growth,” said CP’s President and CEO Keith Creel. “Together with Maersk, the global shipping leader, we will transform intermodal transportation in North America.”
Omar Shamsie, President of Maersk Canada said, “This agreement installs more agile supply chain options and capacity to and from Vancouver for our North American customers. Marketplace fluctuations, e-commerce demands and omnichannel fulfillment are testing every company – so this integrated logistics solution with CP will clearly elevate supply chain performance.” Vancouver warehouse space has been tight in 2020 – which, combined with Vancouver ports experiencing high utilizations has placed pressure on supply chain performance. “So we applied our global integrator strategy to simplify the current situation and create more end-to-end supply chain solutions by reducing multi-modal handoffs. We can now offer more responsiveness to the pace of business by giving supply chain leaders more control of order timing/fulfillment through inland routing flexibility, better velocity gained from one day savings of rail versus truck and cost savings through seamless transload operations into domestic 53’ trailers. We feel this is quite compelling to lower their year-on-year cost goals while creating a more sustainable supply chain with less truck emissions,” added Mr. Shamsie.
The import transload facility will be operational in 2021.
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.
Page 1
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, expansion of CP's existing Vancouver Intermodal Facility, the anticipated timing, impacts and benefits of such planned long-term relationship with Maersk and capital investments including impacts on CP’s operations and prospects for
sustainable growth, decarbonization of the supply chain, and anticipated customer perception of Vancouver as a shipping gateway, CP’s ability to fully serve the planned new import transload facility, anticipated growth in the demand for
CP’s services and anticipated future rail traffic in the Lower Mainland of British Columbia.
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 third parties. Although CP believes the expectations, estimates, projections
and assumptions reflected in the forward-looking information presented herein are reasonable as of the date hereof, there can be no assurance that they will prove to be correct. Current conditions, economic and otherwise, render
assumptions, although reasonable when made, subject to greater uncertainty.
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"
Page 2
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
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
About A.P. Moller - Maersk
A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply
chains. As the global leader in shipping services, the company operates in 130 countries and employs 80,000 people. www.maersk.com
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
Investment Community
Maeghan Albiston
403-319-3591
investor@cpr.ca
Maersk
Media Contact:
Tom Boyd
704-430-3442
thomas.h.boyd@maersk.com
Tom Boyd
704-430-3442
thomas.h.boyd@maersk.com
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