16th Feb 2006 07:01
Turbo Genset Inc.16 February 2006 16th February 2006 TURBO GENSET INC ANNOUNCES PRODUCTION ORDER FOR LOW EMISSION RAIL YARD LOCOMOTIVE ELECTRONICS London, February 16th 2006, Turbo Genset Inc. ("Turbo Genset") is pleased toannounce that it has been awarded the initial production contract for themanufacture of traction motor controllers and low voltage power supply units("LVPS") for a new low emissions locomotive being produced by the NationalRailway Equipment Co. (NREC) of the US. This contract award follows the successful demonstration of a prototype system,the contract for which was previously announced in November 2004. The launch customer for NREC is the Union Pacific Railroad who recentlyannounced that it had signed a contract with NREC for environmentally friendlylow-emission diesel locomotives for use in its Los Angeles Basin rail yards.This is part of Union Pacific's ongoing efforts to continue reducing airemissions in cooperation with federal, state and local environmental agencies. Each locomotive is powered by three 700-horsepower low-emissions diesel enginesprojected to reduce emissions of both nitrous oxides and particulate matter byup to 80 percent, while using as much as 40 percent less fuel compared tocurrent low-horsepower locomotives. Turbo Genset will supply the power electronics which interface to the dieselengines and produce the traction power for the wheels. In addition to Union Pacific, NREC continues to promote this technology to awide range of rail freight companies and large industrial freight users in NorthAmerica and anticipates continued growth in sales. Turbo Genset has now entered into a long-term agreement with NREC for the supplyof a range of traction and auxiliary power electronics equipment, which isexpected to generate revenues in excess of £3.0 million by the end of 2007.Deliveries are planned to commence in June 2006. Michael Hunt, CEO of Turbo Genset commented "We are delighted to be working withNREC on such a prestigious and environmentally progressive programme. This winis consistent with our recent experience of moving onto a production basis withblue chip customers following on the back of successful development programmes.We expect this business to grow in line with the global requirement to cutemissions." For further information, please contact: Turbo Genset - UK Tel: +44 (0) 20 8564 4460Michael Hunt, Chief Executive OfficerStephen Sadler, Chief Financial Officer Company Website: www.turbogenset.com Gavin Anderson (PR)Ken Cronin Tel: +44 (0) 20 7554 1400Michael Turner NOTES TO EDITORS About Turbo Genset Turbo Genset designs and manufactures innovative power solutions which providelocal, high quality, controllable electrical power. The Group's products arefocused on three independent market areas but are all based on its coretechnologies of power electronics and high speed electrical machines. The Group operates across the following three market sectors: •High Speed Motors and Motor Drives •Power Electronics •Turbine Based and Variable Speed Gensets About Union Pacific Corporation Union Pacific Corporation owns one of America's leading transportationcompanies. Its principal operating company, Union Pacific Railroad, is thelargest railroad in North America, covering 23 states across the westerntwo-thirds of the United States. A strong focus on quality and a strategicallyadvantageous route structure enable the company to serve customers in criticaland fast growing markets. It is a leading carrier of low-sulfur coal used inelectrical power generation and has broad coverage of the largechemical-producing areas along the Gulf Coast. With competitive long-haul routesbetween all major West Coast ports and eastern gateways, and as the onlyrailroad to serve all six major gateways to Mexico, Union Pacific has thepremier rail franchise in North America. About National Railway Equipment Co. National Railway Equipment Co., headquartered in Mt. Vernon, Illinois, is aprivately-owned network of vertically integrated manufacturing sites providingquality products and services to the global rail transportation industry.Founded by Lawrence Beal in 1984, National Railway Equipment Co. has grown tobecome the world's largest supplier of remanufactured locomotives; new andrebuilt mechanical materials; electrical systems and components; locomotivefield service; and technical support. With nine facilities, NREC encompassesover 275 acres and more than 1,330,000 square feet under roof to service itscustomers with the best equipped shops in the industry. Forward looking statements This news release contains forward-looking statements. Forward-lookingstatements include statements concerning plans, objectives, goals, strategies,future events, or performance, and underlying assumptions and other statementsthat are other than statement of historical fact. These statements are subjectto uncertainties and risks including, but not limited to, the ability to meetongoing capital needs, product and service demand and acceptance, changes intechnology, economic conditions, the impact of competition, the need to protectproprietary rights to technology, government regulation, and other risks definedin this document and in statements filed from time to time with the applicablesecurities regulatory authorities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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