CP Rail, Kansas City Southern Rail to combine next month under new name

Canadian Pacific Railway Ltd. says it would formally mix with Kansas City Southern Railway Co. on April 14 below a brand new title, Canadian Pacific Kansas City.

The Calgary firm says CP’s president and chief govt Keith Creel will helm the brand new firm with CP’s Nadeem Velani to function the merged business’s chief monetary officer.

KCS president and chief govt Pat Ottensmeyer will develop into an advisor to Creel via the rest of 2023 to foster continuity.

CP says the brand new firm will function the primary single-line railway connecting the U.S., Mexico and Canada.

It is anticipated to shift about 64,000 truckloads yearly from North America’s roads to rail.

CP and KCS obtained approval for the takeover from the U.S. Surface Transportation Board earlier this week, clearing the ultimate hurdle for the US$31 billion deal signed in December 2021 to shut.

This report by The Canadian Press was first revealed March 17, 2023.