CALGARY,
AB, Dec. 12, 2024 /CNW/ - Canadian Pacific
Kansas City (TSX: CP) (NYSE: CP) (CPKC) and Americold Realty Trust,
Inc. (NYSE: COLD) today announced plans to formally explore
co-development opportunities in Mexico as part of their continued strategic
collaboration focused on optimizing temperature-sensitive commodity
flows between the United States,
Mexico and Canada.
Americold and CPKC established a strategic collaboration in
June 2023 to optimize temperature
controlled logistics across North America. CPKC connects North
American markets with single-line, expedited intermodal freight
transportation and a fleet of TempPro™ temperature-protected
intermodal containers for reliable door-to-door transit competitive
with over the road trucks. Americold is a global leader in
temperature-controlled logistics and its cold chain ecosystem plays
an integral role in the food supply chain connecting production,
distribution and consumption for many of the largest food companies
in the world.
In February of this year, Americold announced plans for its
first development with CPKC at their Intermodal Facility in
Kansas City, Mo., and broke ground
on the 335,000-square-foot, $127
million import-export hub in June. The new facility is
planned to open mid-2025 and will support both importers and
exporters of temperature sensitive food between Mexico and the
United States.
"Our strategic partnership with CPKC creates a platform that
will deliver significant and sustainable supply chain value for
existing and new customers in North
America," said George
Chappelle, chief executive officer at Americold. "Exploring
opportunities in Mexico is a
natural continuation of this collaboration as we look at ways we
can attack inefficiencies in the current cold chain."
"We are excited to build on our successful strategic
collaboration with Americold with new facilities in Mexico as we leverage the unrivalled reach of
our North American network to support the cold storage supply
chain," said Keith Creel, CPKC
President and Chief Executive Officer. "That network, combined with
our premium intermodal services moving one of the largest fleets of
refrigerated containers in the industry, and this growing
collaboration with Americold, continues to create new
transportation options for our customers shipping a range of food
and other products across North
America."
Last year, CPKC announced the addition of 1,000 new 53-foot
refrigerated intermodal containers to its network, more than
doubling CPKC's existing fleet and bringing more shipping options
to customers using the expanding Mexico Midwest Express (MMX)
premium intermodal service. MMX is North
America's first single-line rail service offering for
refrigerated shippers from the Midwest to Mexico, a market
currently served by trucks.
Americold plans to invest between $500
million and $1 billion over
the next five to 10 years in development projects with CPKC and its
other strategic partner DP World.
About Americold Realty Trust, Inc.
Americold is a
global leader in temperature-controlled logistics real estate and
value-added services. Focused on the ownership, operation,
acquisition, and development of temperature-controlled warehouses,
Americold owns and/or operates 239 temperature-controlled
warehouses, with approximately 1.5 billion refrigerated cubic feet
of storage, in North America,
Europe, Asia-Pacific, and South America. Americold's facilities are an
integral component of the supply chain connecting food producers,
processors, distributors, and retailers to consumers.
About CPKC
With its global headquarters in
Calgary, Alta., Canada, CPKC is the first and only single-line
transnational railway linking Canada, the United
States and México, with unrivaled access to major ports from
Vancouver to Atlantic Canada to the Gulf of México to
Lázaro Cárdenas, México. Stretching approximately 20,000 route
miles and employing 20,000 railroaders, CPKC provides North
American customers unparalleled rail service and network reach to
key markets across the continent. CPKC is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit
cpkcr.com to learn more about the rail advantages of CPKC.
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SOURCE CPKC
