OTTAWA (dpa-AFX) - Canadian Pacific Kansas City (CP.TO, CP) said it is preparing to restart railway operations in Canada following the Canadian Minister of Labour's announcement that he will exercise his authority under Section 107 of the Canada Labour Code to direct the Canada Industrial Relations Board or CIRB to impose final binding arbitration and for railway operations to resume forthwith.
Canadian Pacific Kansas City noted that it will follow the order of the CIRB once it executes the Minister's direction. Its teams are already preparing for the safe and orderly resumption of its rail network and further details about timing will be provided once we receive the CIRB's order.
Keith Creel, Canadian Pacific Kansas City President and CEO said,'The government has acted to protect Canada's national interest. We regret that the government had to intervene because we fundamentally believe in and respect collective bargaining; however, given the stakes for all involved this situation required action.'
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