CP is halving the number of locomotive repair facilities to four high-efficiency shops that perform all maintenance work. There are similar centers in Calgary, Winnipeg and St. Paul, Minnesota.
Canada's second biggest railway said on Tuesday that it would spend up to C$1.2 billion in its 2012 capital plan to renew infrastructure, improve its network, and on expansion projects.
Activist investor Bill Ackman of Pershing Square Asset Management is preparing a proxy battle to replace CP Chief Executive Fred Green with Canadian National Railway's ex-CEO Hunter Harrison. (Reuters)
