Proposed contract with CP Rail ratified

TORONTO — A union representing more than 2,000 employees at Canadian Pacific Railway (TSX:CP) says workers have overwhelmingly approved a new labour agreemen

TORONTO — A union representing more than 2,000 employees at Canadian Pacific Railway (TSX:CP) says workers have overwhelmingly approved a new labour agreement.

The Canadian Auto Workers union says 82 per cent of employees it represents ratified the deal, which was reached Feb. 5 just hours before the workers were poise to issue a 72-hour strike notice.

The CAW says the deal includes salary increases, benefits and retirement incentives, but has not disclosed details.

The union says the agreement also features incentives and severance programs for employees effected by a shop closure in Calgary.

CAW Local 101 represents 2,100 mechanical services workers at CP, Canada’s second-largest railway.

In late January, the CAW also reached a tentative contract agreement with Montreal-based Canadian National Co. (TSX:CNR), also averting a strike.