Turbo Power Systems Inc. TPSSF

full news release

[Phonse47]

Turbo Power Systems Inc (“TPS” or “the Company”) is pleased to announce that it has received a further purchase order from Bombardier Transportation worth US$7.7m. On 18 January 2007 the Company announced an initial contract with Bombardier Transportation, in support of their contract with the Chicago Transit Authority, worth over $14.2m to supply auxiliary power units for its fleet of metro subway cars. This agreement included a number of phased extension options. Bombardier Transportation has now activated the last of these options, being a follow-on order to TPS for further auxiliary power units, which is expected to be fulfilled during 2013 and 2014. The auxiliary power unit forms a key part of the electrical distribution “backbone” of the subway car, providing a quality power source for subsystems such as the air conditioning equipment. Carlos Neves, Chief Executive of Turbo Power Systems, said: “We are delighted that Bombardier Transportation has chosen to activate this option. Before this extension, we have already supplied over 300 units and are pleased to be providing more. Whilst this purchase order was included in our expectations for 2013 and 2014, it is very pleasing to have reaffirmed our relationship with Bombardier Transportation and to have received the validation that it gives to the equipment that we supply.” >