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Canadian Pacific and the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED) have ratified a new five-year agreement, the organizations announced yesterday.The agreement takes effect Jan. 1, 2018. It ensures wage increases of 2 percent each year over the term of the contract, and provides the opportunity for additional increases of 1 percent in the fourth and fifth years depending on gains in revenue ton miles, according to a CP press release."This agreement reflects the continuing trend of early, long-term contracts with our unions that ensure stability for our hardworking employees and consistency of service for our customers," said CP President and Chief Executive Officer Keith Creel.The TCRC-MWED represents 2,000 workers at CP.