Business
CPKC and Lanco Group/Mi-Jack sell Panama Canal Railway Company to APM Terminals
CPKC and Lanco Group/Mi-Jack sell Panama Canal Railway Company to APM Terminals Canada ...
About this update from Canadian Pacific Kansas City Limited
[{"type":"text","content":"\n\n\n\n CPKC and Lanco Group/Mi-Jack sell Panama Canal Railway Company to APM Terminals\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n April 2, 2025\n \n\n /CNW/ - Canadian Pacific Kansas City Limited (TSX: CP) (NYSE: CP) (CPKC) today said CPKC and the Lanco Group/Mi-Jack have sold the Panama Canal Railway Company (PCRC) to APM Terminals, a global terminal operator and an independent division of A.P. Moller - Maersk.\n \n\n PCRC provides ocean-to-ocean freight and passenger services along the Panama Canal and has been a 50/50 joint venture between CPKC subsidiary Kansas City Southern and Lanco Group/Mi-Jack since its formation in 1998. In 2024, the PCRC generated revenue of\n \n US$77 million\n \n and EBITDA of\n \n US$36 million\n \n .\n \n\n \"We are pleased to have completed this transaction with APM Terminals, a part of A.P. Moller - Maersk, a key strategic partner of CPKC's and major customer of the Panama Canal Railway Company,\" said\n \n Keith Creel\n \n , CPKC President and Chief Executive Officer. \"The sale of this non-core asset creates value for our shareholders and reflects our commitment to optimize our assets as we focus on growing our core North American rail business through our unrivalled three-nation network connecting\n \n Canada\n \n ,\n \n the United States\n \n and\n \n Mexico\n \n .\"\n \n\n \"Lanco is very proud to have worked with CPKC and A.P. Moller - Maersk over the past several years,\" said\n \n Mike Lanigan\n \n , Chief Executive Officer of Lanco Group/Mi-Jack. \"\n \n Keith Creel\n \n and his group have been a pleasure to work with and I wish to congratulate APM Terminals on the purchase of the Panama Canal Railway. As we all know,\n \n Panama\n \n is a major transportation hub, and I am quite confident the container business will continue to grow under the leadership of APM Terminals.\"\n \n\n \"PCRC represents an attractive infrastructure investment in the region aligned to our core services of intermodal container movement,\" said\n \n Keith Svendsen\n \n , CEO, A...