CP Rail reaches tentative five-year pact with 450 signal system workers
Thu Jul 14,10:30 AM ET
CALGARY (CP) - CP Rail and the International Brotherhood of Electrical Workers, representing about 450 CP employees who maintain railway signal systems, announced a tentative five-year collective agreement Thursday.
"With this settlement, CPR has successfully negotiated collective agreements with all of its unionized employees in Canada," Rob Ritchie, CP Rail president and chief executive officer, said in a statement.
Details of the agreement were not disclosed, pending ratification of the IBEW membership, but CP said it provides for improvements to wages, benefits, work rules and productivity.
Results of the ratification vote are expected in September.
CP Rail shares (TSX:CP - news) traded at $42.51, up 66 cents, at the Toronto Stock Exchange early Thursday.
Copyright © 2005 Canadian Press
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