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Canadian Pacific Railway assumes operational control of DM&E Railroad

October 30, 2008

Calgary, Alberta -- Canadian Pacific Railway Limited (TSX/NYSE: CP) today celebrated the first day of operational control of recently acquired Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries: Iowa , Chicago & Eastern Railroad and Cedar American Rail Holdings.

“This is a significant day for Canadian Pacific, DM&E, IC&E and Cedar American Rail Holdings as it marks our acquisition of the largest and one of the most successful regional railroads in North America ,” said CP President and Chief Executive Officer Fred Green. “We acquired the DM&E and IC&E railroads because of the opportunity for sustained double-digit top-line and EBITDA growth. Given the year-to-date performance, and our current outlook, we are anticipating that it will surpass our estimate of $0.15 to $0.17 contribution to our 2008 earnings per share.”

“The DM&E’s speed to market, operational efficiency and organic growth reinforces our confidence in the strength and potency of this acquisition,” added Green. “The two networks belong together, the union of which will open up enhanced opportunities for shippers.”

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Click here for the complete CP release

 

 

CP, DM&E, IC&E Map

Take Action: Link to GOTRAC.org

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Welcome to the online home of GOTRAC, the Growth Opportunity Through Rail Access Coalition.  GOTRAC represents the interests of local governments, agriculture groups, and other associations.  GOTRAC supports efforts to grow the economy, increase rail capacity, and develop communities through safer & more efficient rail transportation in the Midwest .

We need your help! The Dakota, Minnesota & Eastern Railroad wants to upgrade its track through farm country and extend it into Wyoming’s coal-rich Powder River Basin . The project will mean more jobs and economic development to the region, safer transportation, lower energy costs, improved infrastructure to deliver ethanol & biofuels, and a big boost for the region’s farmers.

But it won’t happen without your support. Here’s how you can help:

 

 
  • Get Involved: Help stand up for farmers, create jobs, improve railroad safety, and keep energy costs down in the Take Action section. 
      
     
  • Find the Facts: Learn about the issues around this historic $6 billion project.

Growth Opportunities Through Rail Access Coalition | GOTRAC