Global Railway Receives $1 million In New Contracts
Stock Symbol: GBI
Listing: Toronto Stock Exchange
Outstanding Shares: 7.4 Million (Fully Diluted)
Web Site: www.globalrailway.com
CALGARY, March 22 /CNW/ - Global Railway Industries Ltd. - (TSE:GBI):
Global Railway Industries Ltd., www.globalrailway.com, ("Global"), a provider
of railway maintenance products and service equipment, announced today that
the Company's wholly-owned subsidiaries Rafna Industries Ltd. ("Rafna") and
Bach-Simpson Corporation ("Bach") have been awarded approximately $1 million
in new contracts.
Rafna has been awarded a supply contract from a Leading consolidator of
short line railways. The initial contract is worth $212,000 Cdn.
In addition, Rafna has received a contract from a major North American
transit authority for a custom designed self propelled rail gear system with a
value of approximately $69,000 Cdn.
Bach-Simpson has been awarded a contract valued at approximately $675,000
Cdn. to supply railroad event recorder systems to be used on locomotives
operated by Metra commuter rail in Chicago.
Rafna is a leader in the design, manufacture, supply and installation of
rail gear equipment for the railway industry. Rail gear is hardware equipment,
which allows standard road service vehicles to be driven directly on rail
lines. The rail gear can be raised and lowered rapidly to convert the service
vehicle from highway to rail travel. Rail gear saves operators the need for
highly specialized and expensive rail equipment, which obstructs the bypass of
trains in revenue service.
Bach-Simpson is a leader in the design and manufacture of event
recorders. 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. |
