COMPANY TO HOLD A CONFERENCE CALL AT 4:30 P.M. EASTERN TIME, JUNE 1, 2007
TSX SYMBOL: P
MONTREAL, June 1 /CNW Telbec/ - Railpower Technologies Corp. (TSX: P), a
leader in specialized energy technology systems for the transportation
industry, is asking its clients to temporarily cease operating its GG-series
(Green Goat) yard switcher locomotives. As a precaution, the Company is
recalling 59 units from the GG-series (Green Kids, Generation I, II and III
models). All affected customers are being notified of the recall immediately.
This is Railpower's initial product line. The Company's new product, the Road
Switcher fleet of over 100 vehicles, in operation or on order, is unaffected
by this recall. The Company's recall follows a fire in a Generation I Green
Goat locomotive on the evening of Wednesday, May 30, 2007.
Railpower is undertaking an in-depth analysis of the cause of the fire in
Generation I and II GG-series locomotives in order to determine temporary and
For Generation III Green Goat locomotives, the Company has just completed
an in-depth study of any potential difficulties that could affect this fleet
and believes these can be remedied within a matter of weeks. It will install a
new version of software for battery pack monitoring and implement some
mechanical improvements for additional protection.
"Our goal is to ensure the safety of our customers and their ability to
return to normal operations as rapidly as possible," explained Railpower
President and CEO José Mathieu. "We will devote the resources necessary to
demonstrate our commitment to support our products and to satisfy our
Railpower's fleet of its new product, Road Switcher locomotives,
introduced in 2006, consists of 54 units in successful operation and another
50 units under order. Market potential for this Road Switcher locomotive is
estimated at 6,000 units for North America alone.
Railpower will host a conference call Friday, June 1, 2007, at 4:30 P.M.
Eastern Time. The telephone numbers to access the conference call are
514-807-8791 or 800-733-7560. A replay of the call will be available until
June 8, 2007. The telephone numbers to access the replay of the call are
416-640-1917 or 877-289-8525, for which the passcode is 21235166#.
Railpower (TSX: P), (www.railpower.com) is engaged in the development,
construction, marketing and sales of specialized, patented, environmentally
friendly technology systems for the transportation and related industries.
Railpower's technologies significantly reduce fuel usage, operating and
maintenance costs, and emissions. While Railpower's origins are in the
transportation industry, its technologies have broad potential and
applications in other markets and industries. Railpower is headquartered in
Montreal, Quebec. Its U.S. office is located in Erie, Pennsylvania.
Caution regarding forward-looking statements
Certain statements contained in this release contain forward-looking
statements. When used in this document, the words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions may be used to identify forward-looking statements. Those
statements reflect our current views with respect to future events or
conditions, including prospective results of operations, financial position,
predictions of future actions, plans or strategies. Certain material factors
and assumptions were applied in drawing our conclusions and making those
forward looking statements. By their nature, those statements reflect
management's current views, beliefs and assumptions and are subject to certain
risks and uncertainties, known and unknown, including, without limitation,
product development or manufacturing delays, changing environmental
regulations, the ability to attract and retain business partners, the
acceptance of our existing and new products, future levels of government
funding, the need to obtain and maintain proprietary rights over our
technology, competition from other technologies, the ability to access the
capital required for research, product development, operations and marketing,
the need to generate positive cash flow in the foreseeable future, changes in
energy prices and currency levels. Many factors could cause our actual
results, performance or achievements to be materially different from any
future results, performance or achievements that may be expressed or implied
by these forward-looking statements. Should one or more of these risks or
uncertainties materialize, or should the assumptions underlying our
projections or forward-looking statements prove incorrect, our actual results
may vary materially from those described in this report as intended, planned,
anticipated, believed, estimated, or expected. We do not intend and do not
assume any obligation to update these forward-looking statements whether as a
result of new information, plans, events or otherwise.
For further information:
For further information: José Mathieu, President & CEO, Railpower
Technologies Corp., (450) 678-5277 ext. 501, Toll Free: 866-678-5277,
firstname.lastname@example.org; Roch Landriault, NATIONAL Public Relations, (514)