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    CP   CA13645T1003

CANADIAN PACIFIC RAILWAY LIMITED

(CP)
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Canadian Pacific Railway : Canada probe finds no link between rail operations and fire that destroyed town

10/14/2021 | 01:19pm EST

OTTAWA, Oct 14 (Reuters) - Safety investigators probing a fire that destroyed a small town in western Canada in late June have found no link to trains that were operating in the area, an official report said on Thursday.

Two people died when a wildfire ripped through Lytton, British Columbia. Amid suspicions the blaze might have been started by sparks from freight train wheels, authorities ordered Canadian National Railway Co and Canadian Pacific Railway Ltd to temporarily reduce speeds.

Canada's Transportation Safety Board (TSB) said it had carried out "significant investigative work to determine if there was a definitive connection" between trains running through the town and the blaze.

"The TSB investigation has not identified any link between railway operations and the fire," it said.

A CP train had passed through the town about 18 minutes before the first report of a fire, the TSB said. A probe of the train showed no signs of "hot bearings, burnt brake heads, built-up tread, and other potential fire-creating causes."

CP said in July it had found nothing to indicate any of its trains had caused or contributed to the fire, which erupted during a record breaking heat wave. (Reporting by David Ljunggren Editing by Chris Reese and Diane Craft)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN NATIONAL RAILWAY COMPANY 0.46% 166.56 Delayed Quote.15.69%
CANADIAN PACIFIC RAILWAY LIMITED 1.31% 92.76 Delayed Quote.3.73%
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Financials
Sales 2021 8 114 M 6 398 M 6 398 M
Net income 2021 2 977 M 2 348 M 2 348 M
Net Debt 2021 9 456 M 7 457 M 7 457 M
P/E ratio 2021 20,9x
Yield 2021 0,83%
Capitalization 61 095 M 47 788 M 48 179 M
EV / Sales 2021 8,70x
EV / Sales 2022 8,26x
Nbr of Employees 12 262
Free-Float 100,0%
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Number of Analysts 26
Last Close Price 91,60 CAD
Average target price 102,27 CAD
Spread / Average Target 11,6%
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Managers and Directors
Keith Edward Creel President, Chief Executive Officer & Director
Nadeem S. Velani Chief Financial Officer & Executive Vice President
Isabelle Courville Chairman
Justin Dale Meyer Vice President-Engineering
Pam Arpin Chief Information Officer & Vice President
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