Bach-Simpson's (Global Railway subsidiary) industry leading Crash
Hardened Event Recorders on board new commuter rail cars destined for
New York City, Chicago & Los Angeles areas
Stock Symbol: GBI
Listing: Toronto Stock Exchange
Outstanding Shares: 14.9 Million
Web Site: www.globalrailway.com
BERWICK, PA, March 27 /CNW/ - Global Railway Industries Ltd., -
(GBI:TSX): Global Railway Industries Ltd., www.globalrailway.com, ("Global" or
the "Company"), a leading North American provider of railway products and
service equipment, today announced that its Bach-Simpson Corporation
subsidiary ("Bach-Simpson"), has signed three contracts to provide Event
Recorders for new commuter rail cars being delivered to transit operators in
the New York City, Chicago and Los Angeles areas.
Under contract from various transit rail car OEM's (original equipment
manufacturers), Bach-Simpson will supply Event Recorders, spare parts and test
equipment for installation on new commuter rail cars for a combined value of
US $5.5 million. Deliveries will begin in late 2007 continuing through 2011 to
coincide with the delivery schedules of the new rail cars.
The orders include options for additional Event Recorder equipment valued
at US $1.3 million exercisable over the next five years for a total potential
value of about US $6.8 million.
"We are a leader in Crash Hardened Event Recorder technology, and offer a
very unique system that meets both IEEE and the latest FRA crashworthy memory
requirements. We are excited that we have been chosen to deploy our Event
Recorder systems on these contracts, and look forward to strengthening our
relationships in the transit market to expand our installed base," said Paul
Weber, President of Bach-Simpson.
Weber continues, "Bach-Simpson's Event Recorder technology is in use
world-wide and is already on board railcars used by various New York, Chicago
and Los Angeles area rail transit operators"
"Safety Boards both in US and Canada have begun to mandate the use of
crash survivable event data recorders aboard locomotives and transit cars,"
said Terry McManaman CEO of Global Railway. "Bach-Simpson's Event Recorders
equipped with a Crash Hardened Memory Module are the technology leader in this
Event data recording is a very effective technology that is currently
being deployed in the rail transportation industry. Recording vehicle data is
essential in operating and maintaining safe and efficient vehicles. Recorded
data provides vital information for accident investigations, train handling
studies, fuel conservation, vehicle performance, and preventative maintenance
About Bach-Simpson: Established in 1946, Bach-Simpson is a leading
supplier of electronic instrumentation and control systems for the rail and
transit markets. Visit Bach-Simpson at www.bach-simpson.com.
About Global Railway Industries: Global Railway Industries Ltd. is a
diversified rail product company serving the railway industry in North
America. Global Railway is a public company whose shares are listed for
trading on the Toronto Stock Exchange (TSX) under the symbol "GBI". The
Company has a total of 14.9 million shares outstanding. For more information:
visit www.globalrailway.com or www.investorfile.com.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE
RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,
UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE
ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS
FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED
ANNUAL REPORT AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO ASSURANCES CAN BE
GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD-LOOKING STATEMENTS
WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE COMPANY
WILL DERIVE THEREFROM.
For further information:
For further information: Company Contact: Terry McManaman, President &
CEO, Tel: (570) 802-0366, E-mail: firstname.lastname@example.org, Web:
www.globalrailway.com; Investor Relations: Gerry Wimmer, INVESTORFILE.com,
Tel: (416) 360-8895, Toll Free: 1-888-894-8222, E-mail:
email@example.com, Web: www.investorfile.com