13th Mar 2007 07:01
Turbo Power Systems Inc13 March 2007 March, 13 2007 TURBO POWER SYSTEMS WINS FURTHER RAIL ORDER WORTH $8M Turbo Power Systems Inc ("TPS" or "The Company"), the innovative powergeneration and conditioning equipment supplier, is pleased to announce it hasreceived an order from Bombardier Transportation worth in excess of US$8m. Bombardier is producing a new fleet of metro subway cars for the Toronto TransitCommission (TTC), and TPS will supply Bombardier with auxiliary powerelectronics units for 39 train sets. These units will form a key part of adistributed power system throughout the train providing a source of qualitypower for sub-systems such as the air-conditioning equipment. The initial confirmed order is for production equipment, spares, training andengineering services and is worth in excess of US$8m. Delivery of the productionequipment is expected to take place between 2008 and 2010. The TTC have a number of phased options which, if exercised, could increase thevalue of the overall components contract between TPS and Bombardier. The TTC is a public transport authority that operates buses, streetcars,subways, and rapid transit lines in Toronto, Ontario, Canada. The TTC is thethird largest agency in North America, serving over 430 million passengers eachyear. Michael Hunt, Chief Executive Officer of Turbo Power Systems, said: "The Companyis clearly very pleased to have won another contract with Bombardier. TPS iscurrently supplying rail electronics directly to the TTC for a separate vehicleupgrade program, and we are now delighted to be supporting Bombardier in themanufacture of Toronto's next generation of subway vehicles as well. "This contact win further consolidates our position in the international railsector and reflects the growing reputation of TPS in this market. We lookforward to continuing to build on these contract successes throughout the restof 2007." For further information, please contact: Turbo Power Systems Inc Tel: +44 (0)20 8564 4460Michael Hunt, Chief ExecutiveStephen Sadler, Chief Financial Officer Gavin Anderson & Company (PR) Tel: +44 (0)20 7554 1400Ken CroninMichael Turner KBC Peel Hunt Tel: +44 (0)20 7418 8900Oliver ScottGordon Suggett Company Website: www.turbopowersystems.com NOTES TO EDITORS About Turbo Power Systems Turbo Power Systems develops innovative products for power generation and powerconditioning. The Group was established in 1993 as a spin-off from ImperialCollege, London and was floated on the London stock exchange in July 2000 andsoon after obtained a secondary listing in Toronto. In July 2001, the Groupacquired Intelligent Power Systems Limited (I-Power) specialising in powerelectronics. About Bombardier A world-leading manufacturer of innovative transportation solutions, fromregional aircraft and business jets to rail transportation equipment, systemsand services, Bombardier Inc. is a global corporation headquartered in Canada.Its revenues for the fiscal year ended Jan. 31, 2006, were $14.7 billion US andits shares are traded on the Toronto Stock Exchange (BBD). News and informationare available at www.bombardier.com. 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:
TPS.L