Thursday, July 11, 2013

CP and K+S Potash sign long-term agreement

K+S Potash Canada and Canadian Pacific signed an exclusive long-term volume-based contract on the transportation of potash products from K+S' Legacy Site.

 The contract is for potash to be moved from the Legacy site, near Moose Jaw and Regina in Saskatchewan, to a Western Canadian port of export for overseas destinations and via CP's extensive network to domestic Canadian and U.S. markets.

"We are glad to have found Canadian Pacific as the perfect partner and strategic fit for our transportation needs in Canada. Canadian Pacific offers an excellent logistics service and we are looking forward to this long-term partnership", said Dr. Ulrich Lamp, president and chief executive officer of K+S Potash Canada.

"Canadian Pacific is extremely pleased to be a partner with K+S Potash Canada in providing the capability to move potash to market via our rail-direct network," said CP President and Chief Operating Officer Keith Creel. "The capacity, flexibility and market access of CP's network on our Western corridor, as well as efficient route options into the United States, ensures a growth opportunity for both companies."

K+S Potash Canada and Canadian Pacific are forming a longstanding partnership to ensure that the transport of product from the Legacy site to clients is both secure and competitive. Production from the mine is planned for the summer of 2016. In order to accommodate the transportation needs of the Legacy site, Canadian Pacific will be building an exclusive rail spur to provide access to K+S Potash Canada's Legacy site.

 

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