OTTAWA (Reuters) - Canadian Pacific Railway Ltd
Canada's second biggest railroad will keep details of the contract with the Canadian Pacific Police Association under wraps until union members ratify it.
Calgary-based CP Railway said it is currently in talks with the rail maintenance workers represented by Teamsters Canada Rail Conference and will start talks with the International Brotherhood of Electrical Workers. Contracts for both unions expire December 31, 2009.
"CP operations continue as normal and we are optimistic that settlements will be possible with both the (unions)," spokesman Mike LoVecchio said via email.
In September, United Steel Workers ratified an agreement with a 6 percent wage increase for three years ending 2012. The contract affects 1,100 clerical and intermodal workers at the railroad.
Shares of CP Railway rose 41 Canadian cents to C$52.74 on the Toronto Stock Exchange and 8 cents to $49.30 in New York on Friday. The stock has climbed about 25 percent year-to-date.
($1=$1.07 Canadian)
(Reporting by Susan Taylor, editing by Gerald E. McCormick)
© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
