The railway transport provider Canadian Pacific (CP) has signed an agreement with the retail company Canadian Tire Corporation (CTC) to extend their long-standing partnership on CTC’s products movement in Canada.
Keith Creel, president and CEO of CP noted that by signing the multi-year contract extension, the two companies continue their near-century-long commercial relationship. “As the single largest container importer in Canada, CTC will benefit from CP’s service, reliability and network capacity across Canada,” he said.
In an effort to support the efficient movement of CTC’s goods and reduce carbon emissions, Canadian Pacific will begin directly serving the inland Ashcroft Terminal in British Columbia, a move that is expected to reduce the need to shift volumes to trucks.
“CP has been one of our most trusted and long-standing partners and played an important role in the Company’s early growth,” stated Greg Hicks, CTC president and CEO, who went on to add that the company’s commitment to operating as a sustainable Canadian brand aligns with CP’s efforts to reduce greenhouse gas emissions.
The agreement builds on more than 90 years of cooperation and establishes the ability for CTC to explore sourcing and optionality opportunities with CP’s network, according to a statement.
