CP’s purchase of KCS, the continent’s first major railway merger in more than two decades, created the only railway stretching from Canada through to the U.S. and Mexico. The U.S. rail regulator approved the US$31 billion deal in March.
“We’re going to make this thing right and we’re not going to fail by letting our … aggressiveness and our want for revenue oversubscribe our ability to execute,” he said. Surface Transportation Board chair Martin Oberman said in March that the merger is expected to speed up freight travel time, enhance efficiency, encourage better competition with the other U.S. railways, and shift around 64,000 truckloads a year from North America’s roads to rail.Article content
CPKC’s net income for the first quarter of 2023 was $800 million, up more than 35 per cent from $590 million a year earlier, the company said Wednesday.
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