Canadian Pacific Kansas City unveils plans for new rail network

executives took the stage in Missouri before investors on Wednesday, outlining the railway’s plan to profit from its newly enlarged network.– chief executive officer Keith Creel said the railway that now extends deep into the United States and Mexico creates new opportunities for customers and the company.

“You will see in our three nations’ history a network that will connect Canada, the U.S. and Mexico again,” he said. Mexico’s young and low-cost work force has also helped attract several manufacturers located on CPKC’s network. Mr. Easton pointed to a list of companies that have moved production to Mexico from Europe, Asia and the United States, including Lego, John Deere and Bosch. Others include Tesla and BMW, which have announced massive plants to make electric cars. All are big shippers of raw materials and finished goods.

“We’re witnessing a pivot in global supply chains from Asia to Mexico,” Mr. Easton said, citing the war in Ukraine and tensions with China. “This has been going on for quite a few years, but the COVID reality has supercharged the movement of companies to Mexico and the development of supply chain integration in North America. The pandemic forced us to de-risk supply chains.”CPKC issued 2023 and long-term financial guidance that missed analyst expectations, and the company’s share price fell.

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