(Reuters circulated the following on December 10, 2009.)
OTTAWA — Canadian Pacific Railway Ltd (CP.TO) (CP.N) said on Thursday its unionized railway police have ratified a new three-year labor contract.
The agreement with Canada’s second-biggest railroad provides a 3-percent wage increase in both 2010 and 2011 and no increase in 2012, said police union President Clark Rutledge. The railway police contract, affecting 53 members, was set to expire Dec. 31, 2009.
The Canadian Pacific Police Association is the second of the railway’s seven bargaining units to ratify an agreement.
In September, United Steel Workers ratified a three-year contract affecting 1,100 clerical and intermodal workers at the Calgary-based railroad.
The company said it is talks with the Teamsters Canada Rail Conference and is starting discussions with the International Brotherhood of Electrical Workers union.
Contracts for both unions expire on Dec. 31, but bargaining and work will continue after that deadline, a CP spokesman said.
“We are optimistic that settlements will be possible with both,” CP media relations manager Mike LoVecchio said via email.
Shares of CP gained C$1.16, or 2 percent, to C$56.77 on the Toronto Stock Exchange on Thursday.