(Reuters circulated the following article on December 12.)
VANCOUVER, British Columbia — Canadian Pacific Railway Ltd.
lowered its profit forecast for next year on Monday, citing the potential of reduced production by key customer Fording Canadian Coal Trust.
CP Rail said it now expects its 2006 earnings per share to range from C$3.60 to C$3.85, a change from the range of C$3.70 to C$3.85 it had predicted earlier.
Fording said last week that production at its Elk Valley coal mines in British Columbia would likely be less than it had hoped for next year because it will not be able to buy enough tires for its massive mining trucks.