CALGARY,
AB, June 21, 2023 /PRNewswire/ - Canadian
Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) and Americold
Realty Trust, Inc. (NYSE: COLD) today announced a strategic
collaboration to co-locate Americold warehouse facilities on the
CPKC network. Anchored by rail transportation service, the intent
is to build the first facility in Kansas
City, Mo. to bring together cold storage and
value-added-services with expedited intermodal transportation
solutions connecting key U.S. Midwest and Mexico markets.
"CPKC is pleased to collaborate with Americold to provide
innovative solutions for our customers throughout North America with this Kansas City facility, the first of many we
intend to build in the years to come," said Keith Creel, CPKC President and Chief Executive
Officer. "CPKC's new Mexico Midwest Express (MMX) premium
intermodal service, combined with one of the largest fleets of
refrigerated containers in the industry, and now this
collaboration, will further elevate this world-class service
offering moving a range of food and other products to and from
Mexico."
"At Americold, we are constantly looking for innovative ways to
create value for our large global customers. This partnership with
CPKC leverages the strengths of both companies, and enables us to
offer solutions together that we would not be able to offer
separately," said George Chappelle,
Chief Executive Officer at Americold. "The combination of
Americold's vast North American facilities network and world-class
coldchain operating model with CPKC's new MMX intermodal service
and refrigerated assets will produce a new and unique offering to
the food supply chain."
CPKC connects North American markets with single-line, expedited
intermodal freight transportation and a fleet of TempPro™
temperature-protected intermodal containers for reliable
door-to-door transit competitive with over the road
trucks.
A global leader in temperature-controlled logistics, Americold's
coldchain ecosystem plays an integral role in the food supply chain
connecting production, distribution and consumption for many of the
largest food companies in the world.
CPKC and Americold are working collaboratively to streamline
border crossing procedures and provide a more seamless experience
for shippers.
CPKC recently announced the addition of 1,000 new 53-foot
refrigerated intermodal containers to its network, more than
doubling CPKC's existing fleet and bringing more shipping options
to customers using the expanding Mexico Midwest Express premium
intermodal service.
MMX is North America's first
single-line rail service offering for refrigerated shippers from
the Midwest to Mexico, a market currently served by trucks.
The average intermodal train takes more than 300 trucks off the
road with 75 percent fewer greenhouse gas emissions than trucks.
Freight trains are four times more fuel efficient than trucks and
can move a ton of freight 500 miles on one gallon of
fuel.
The MMX temperature controlled service will move fresh and
frozen produce, baked goods, candy and other food products
northbound and beef, chicken and pork to southern
markets.
MMX trains now link Chicago,
Kansas City, Texas markets, Monterrey and San
Luis Potosi offering third-day service to/from Laredo, fourth-day service to/from
Monterrey and 4.5-day service
to/from San Luis Potosi. MMX
provides transit time of 98 hours from Chicago to San Luis
Potosi – a day faster than the nearest competitor.
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 in
both the U.S. and Canada.
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",
"will", "anticipate", "believe", "expect", "plan", "should",
"commit", "outlook", "guidance" or similar words suggesting future
outcomes.
This news release contains forward-looking information relating,
but not limited, to, the strategic collaboration to co-locate
Americold warehouse facilities on the CPKC network, the
potential customers and demands of the new Kansas City facility, the anticipated impacts
of the collaboration to streamline border crossing procedures, and
other related matters associated with the optimization of
temperature-controlled logistics across North America.
The forward-looking information contained in this news release
is based on current expectations, estimates, projections and
assumptions, having regard to CPKC's experience and its perception
of historical trends, and includes, but is not limited to,
expectations, estimates, projections and assumptions relating to:
changes in business strategies; the fuel efficiency of railways and
CPKC's operations; the impacts of existing and planned capital
investments; 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 business plan; geopolitical conditions; applicable
laws, regulations and government policies; the availability and
cost of labour services and infrastructure; the satisfaction by
third parties of their obligations to CPKC; carbon markets,
evolving sustainability strategies, and scientific or technological
developments; and capital investments by third parties. Although
CPKC 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,
CPKC'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 and
strategic opportunities; general Canadian, U.S., Mexican and global
social, economic, political, 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,
including competition from other rail carriers, trucking companies
and maritime shippers in Canada,
the U.S. and Mexico; North
American and global economic growth and conditions; industry
capacity; shifts in market demand; changes in commodity prices and
commodity demand; uncertainty surrounding timing and volumes of
commodities being shipped via CPKC; 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; disruption in fuel supplies; uncertainties of
investigations, proceedings or other types of claims and
litigation; compliance with environmental regulations; labour
disputes; changes in labour costs and labour difficulties; risks
and liabilities arising from derailments; transportation of
dangerous goods; timing of completion of capital and maintenance
projects; sufficiency of budgeted capital expenditures in carrying
out business plans; services and infrastructure; the satisfaction
by third parties of their obligations; currency and interest rate
fluctuations; exchange rates; 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; the effects of current and future
multinational trade agreements on the level of trade among
Canada, the U.S. and Mexico; climate change and the market and
regulatory responses to climate change; anticipated in-service
dates; success of hedging activities; operational performance and
reliability; customer and other stakeholder approvals and support;
regulatory and legislative decisions and actions; the adverse
impact of any termination or revocation by the Mexican government
of Kansas City Southern de México, S.A. de C.V.'s Concession;
public opinion; 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; acts
of terrorism, war or other acts of violence or crime or risk of
such activities; insurance coverage limitations; material adverse
changes in economic and industry conditions, including the
availability of short and long-term financing; the pandemic created
by the outbreak of COVID-19 and its variants 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 realization of anticipated
benefits and synergies of the CP-KCS transaction and the timing
thereof; the satisfaction of the conditions imposed by the U.S.
Surface Transportation Board in its March
15, 2023 final decision; the success of integration plans
for KCS; the focus of management time and attention on the CP-KCS
transaction and other disruptions arising from the CP-KCS
integration; estimated future dividends; financial strength and
flexibility; debt and equity market conditions, including the
ability to access capital markets on favourable terms or at all;
cost of debt and equity capital; improvement in data collection and
measuring systems; industry-driven changes to methodologies; and
the ability of the management of CPKC to execute key priorities,
including those in connection with the CP-KCS transaction. The
foregoing list of factors is not exhaustive. These and other
factors are detailed from time to time in reports filed by CPKC
with securities regulators in Canada and the
United States. Reference should be made to "Item 1A - Risk
Factors" and "Item 7 - Management's Discussion and Analysis of
Financial Condition and Results of Operations - Forward-Looking
Statements" in CPKC's annual and interim reports on Form 10-K and
10-Q.
Any forward-looking information contained in this news release
is made as of the date hereof. Except as required by law, CPKC
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 CPKC
With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line
transnational railway linking Canada, the United
States and México, with unrivaled access to major ports from
Vancouver to Atlantic Canada to the Gulf of México to
Lázaro Cárdenas, México. Stretching approximately 20,000 route
miles and employing 20,000 railroaders, CPKC provides North
American customers unparalleled rail service and network reach to
key markets across the continent. CPKC is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpkcr.com to
learn more about the rail advantages of CPKC. CP-IR
About Americold
Americold is a global leader in temperature-controlled logistics
real estate and value added services. Focused on the ownership,
operation, acquisition and development of temperature-controlled
warehouses, Americold owns and/or operates 243
temperature-controlled warehouses, with approximately 1.5 billion
refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific and South America. Americold's facilities are an
integral component of the supply chain connecting food producers,
processors, distributors and retailers to consumers.
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SOURCE CPKC