CP extends reach into the Ohio Valley, expands sales and marketing presence in Asia
November 10, 2017
Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced a new partnership with Genesee & Wyoming Inc. (G&W) (NYSE: GWR) and Bluegrass Farms of Ohio that will open up the Ohio Valley to CP customers and further extend CP's reach into key North American markets.
CP has an exclusive agreement with Bluegrass Farms of Ohio to use its 90-acre intermodal facility in Jeffersonville, Ohiolocated strategically on the I-71 corridor with the ability to serve the Columbus, Cincinnati and Dayton markets. The farm consortium will continue to own the facility, and will operate it on behalf of CP. CP has also come to an agreement with G&W, which services the site through its Indiana & Ohio (IORY) line.
"Through strategic partnerships and innovative thinking, we are expanding our reach and increasing optionality for our customers," said Keith Creel, CP President and Chief Executive Officer. "This service allows our international intermodal customers to come through the Port of Vancouver and access markets deep in the Ohio Valley. The unique site also creates better round trip economics for our customers by enabling the empty containers to be re-loaded with agriculture products and shipped back overseas."
The site offers CP and G&W a ready-made intermodal facility on the IORY line that is able to accommodate intermodal and bulk shipments, along with the ability to provide transloading services of bulk agricultural products into containers. The secure site also features extensive container and trailer storage and the ability to grow with current and future customers.