05:52:07 EDT Fri 26 Apr 2024
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Grande West Transportation Group Inc
Symbol BUS
Shares Issued 51,803,752
Close 2016-09-23 C$ 0.60
Market Cap C$ 31,082,251
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Grande West wins $6M BC Transit contract for 17 buses

2016-09-26 09:39 ET - News Release

Mr. William Trainer reports

GRANDE WEST RECEIVES BC TRANSIT ORDER FOR VICINITY 35 FOOT BUSES

Grande West Transportation Group Inc. has received new orders from BC Transit for 17 Vicinity buses totalling $6-million.

The order is for 14 30-foot and three 35-foot Vicinity buses for 2017 delivery. This is in addition to BC Transit's initial order for 41 30-foot Vicinity buses valued at approximately $13-million announced May 10, 2016.

The new orders for the 35-foot bus are Grande West's first in the larger format. Customers across Canada and the United States have expressed significant interest in the 35-foot Vicinity to satisfy ridership demand where traditional 40-foot buses are too costly to operate efficiently.

Current firm orders for 2017 delivery are for 149 buses valued at over $50-million. Firm orders and options for 2018-2020 delivery are currently at 90 buses.

William Trainer, president and chief executive officer, stated: "Bringing the 35-foot Vicinity to market to meet customer requests for higher passenger capacity is another major milestone for Grande West. Offering a larger bus provides transit authorities with additional flexibility as they 'right-size' their fleets for increased efficiencies with fuel, maintenance, ridership and capital costs. We will continue to innovate and extend our product line to meet the needs of our existing and growing customer base."

We seek Safe Harbor.

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