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Canadian Pacific Railway and the Canadian Auto Workers (CAW) union reached a tentative three-year agreement yesterday, averting a strike the CAW was set to launch tomorrow.

The parties didn't disclose details of the pact, which will be presented to CAW members for a ratification vote. Local union leaders will meet in Toronto on Wednesday and Thursday to review the agreement.

CPR and the CAW — which represents 2,500 of the railroad's shopcraft workers — have been negotiating an agreement since October and remained far apart on concessions for months. The current contract expires today.

"This agreement effectively addresses the company's productivity and fluidity goals," said Assistant Vice President of Labor Relations Rick Wilson in a prepared statement.