Benzinga | Dec 23, 2021 12:15PM EST

Canadian Pacific Railway, Canpotex Ink New Long-Term Agreement

* Canadian Pacific Railway Ltd (NYSE:CP) entered a new long-term agreement with Canpotex Limited. The new seven-year contract is a successor to the current, 10-year agreement between the companies, which expires in 2022. Deal terms were not disclosed.

* CP is the primary rail transportation provider supporting delivery of Canadian potash to Canpotex's overseas export markets.

* CP allows Canpotex's supply chain to be optimized efficiently and safely from mine to port terminals by leveraging its service options and network capacity.

* Price Action: CP shares traded lower by 0.05% at $71.74 in the last check Thursday.