Global Railway is Awarded $800,000 Contract to Supply Metro Transit, Minneapolis-Minnesota
Stock Symbol: GBI Listing: Toronto Stock Exchange Outstanding Shares: 7.2 Million (Fully Diluted) Web Site: www.globalrailway.com
CALGARY, Oct. 23 /CNW/ - Global Railway Industries Ltd., - (TSE:GBI - news): Global Railway Industries Ltd., www.globalrailway.com, ("Global"), a provider of railway products and service equipment, announced today that the Company's wholly-owned operating subsidiary Bach-Simpson, was awarded a USD $514,000 (approximately CAD $800,000) contract to supply railroad event recorder systems to be used on transit equipment operated by Metro Transit, Minneapolis-Minnesota.
The contract, which was received from a subsidiary of a major Canadian transportation equipment manufacturer, requires the delivery of event recorder systems over a 24-month period. The contract also contains several options to increase the order size.
"Given the increase in demand for mass transit railway equipment in North America and abroad, we are experiencing growth in sales for our railway event recorder products," says Mike Kohut, President of Global. "There is a trend by passenger railway operators to equip new or refurbished rail cars with such equipment."
Global's subsidiary Bach-Simpson www.bach-simpson.com, is a market leader in railroad instrumentation and vehicle monitoring equipment. The company specializes in state-of-the-art Event Recorder Systems for transit railcars and industrial freight locomotives with thousands of units already installed and operating.
Event Recorders are specifically designed for the adverse conditions of the railroad environment. The recorded data provides vital information for accident investigations, train handling studies, fuel conservation, vehicle performance, and preventative maintenance programs. |
