Canadian Pacific Railway has issued a 72 hour lock out notice to the Teamsters Canada Rail Conference which is the union that represents approximately 3,000 CP Rail workers.

The company says if they can’t come to a negotiated settlement or agree to binding arbitration the lockout will take place at 12:01 a.m. Sunday.

CP President and CEO Keith Creel says, “The world has never needed Canada’s resources and an efficient transportation system to deliver them more than it does today. Delaying resolution would only make things worse. We take this action with a view to bringing this uncertainty to an end.”

Despite negotiations, including daily meetings this week, CP Rail says the position of the employers and the union remain far apart.

In addition CP Rail says it tabled an offer Wednesday to address a total of 26 outstanding issues while the union tabled proposal that included “even more onerous pension demand”.

Dave Fulton, spokesperson for TCRC, says, ” Our members are fully engaged and will be ready in the event CP carries out the notice.”

The union also said in its statement that Teamsters Canada Rail Conference is committed to working with federal mediators and reaching a negotiated settlement, that the Union is willing to remain at the bargaining table until the March 20th lockout deadline and beyond

The Locomotive Engineers, Conductors, Trainpersons and Yardpersons employed with CP Rail recently voted 96.7% to authorize strike action.