The Surface Transportation Board (STB) will assess environmental impacts of the proposed Canadian Pacific (CP)-Kansas City Southern (KCS) merger; it’s expected that the environmental review process will wrap up by fall 2022.
RAILWAY AGE, NOVEMBER 2021 ISSUE: Railway Age’s Women in Rail awards recognize leaders for driving their businesses forward while making a difference in the industry and in their communities.
Canadian Pacific (CP) and Kansas City Southern (KCS) shareholders will have an opportunity to vote on the CP-KCS combination next month.
The Surface Transportation Board (STB) has released a procedural schedule for the proposed transaction creating Canadian Pacific Kansas City (CPKC) and is inviting public comment.
It’s mainly procedural: On Oct. 29, Canadian Pacific and Kansas City Southern jointly filed a railroad control application with the Surface Transportation Board transaction to create Canadian Pacific Kansas City (CPKC), “the only single-line railroad linking the United States, Mexico and Canada.”
Kansas City Southern has entered into a joint venture with Suministros Industriales Potosinos SA de CV (SIPSA) and TransDevelopment Group (TDG) to develop the Central Bajío Vehicle Distribution Center (VDC), described as “a state-of-the-art origin and destination terminal for the shipment of finished vehicles.”
Kansas City Southern (KCS) President and CEO Patrick J. Ottensmeyer has received a United States–Mexico Chamber of Commerce (USMCOC) 2021 Good Neighbor award.
Despite third-quarter 2021 supply chain challenges, Canadian Pacific’s (CP) “commitment to the foundations of precision scheduled railroading enabled us to respond quickly and effectively,” President and CEO Keith Creel said during the railroad’s earnings announcement on Oct. 20.
CN on Oct. 19 followed former merger partner Kansas City Southern (KCS) in reporting financial results for third-quarter 2021, posting C$3.591 billion in revenues—up 5% over the prior-year period; at the same time, CN announced President and CEO JJ Ruest’s planned retirement.
Kansas City Southern (KCS) on Oct. 19 was the first Class I to report third-quarter 2021 earnings. Revenue for the potentially merger-bound railroad—back with original suitor Canadian Pacific (CP)—came in at $744.0 million, growing 13% from the prior-year period ($659.6 million), but volumes fell.