VANCOUVER, Aug. 28, 2018 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS) (OTC PINK: GWTNF) – August 28, 2018: ("Grande West" or the "Company"), a Canadian manufacturer of mid-sized multi-purpose transit vehicles for sale in Canada and the United States, is pleased to announce that it has successfully completed an independent third party audit of its Buy America assembly and financial bill of materials on its Vicinity bus in order to meet current Federal Transit Administration ("FTA") requirements.
Buy America provisions ensure that transportation infrastructure projects are built with American-made products. This means that local, state and Federal government investments in public transit are able to support an entire supply chain of American companies and their employees. The Vicinity finished bus is required to contain a minimum of 65% U.S. content in order to be included as a vendor for Federally funded projects.
Grand West utilized third party Buy America accredited auditors in order to review the Company's U.S. assembly process and procedures, as well as the bill of materials and supplier Buy America certificates for component parts in the Vicinity product. The assembly process was verified and validated. Additionally, the Vicinity has scored Best-In-Class at the FTA's Altoona Test in Altoona, Pennsylvania.
Jean-Marc Landry, CEO of Grande West commented, "This Buy America third party audit is a key milestone in proving out our ability to bid on and deliver to U.S. Federally funded transit opportunities. Grande West has a large pipeline of potential opportunities, many of them in the public transit sector. We expect the U.S. to be our largest opportunity for future growth in Vicinity sales and expect sales to ramp significantly in 2019 as we continue to focus our efforts on U.S. sales."
About Grande West Transportation Group
Grande West is a Canadian company that designs, engineers and manufactures mid-size multi-purpose transit vehicles for public and commercial enterprises. Grande West's Best-in-Class heavy-duty Vicinity bus is available in 27.5', 30' and 35' models powered by clean diesel or CNG designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, is more maneuverable, burns less fuel and emits less harmful emissions. Grande West will soon be offering a new product which will be the first Crossover Vehicle in the transit space - a medium-duty, monocoque-designed rear engine vehicle.
The Company has been successful in supplying Canadian municipal transportation agencies and private operators with new buses and is receiving follow-on orders in many Canadian transit agencies. Grande West is compliant to Buy America certification, and along with ABG, its exclusive US distributor, is actively pursuing opportunities in public and private transit fleet operations that would benefit from Grande West's vehicles.
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the use of proceeds from the Private Placement, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from Grande West's expectations include uncertainties relating to the receipt of final approval from the TSX-V; and other risk and uncertainties disclosed in Grande West's reports and documents filed with applicable securities regulatory authorities from time to time. Grande West's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Grande West assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE Grande West Transportation Group Inc.
For further information: Grande West Transportation: John LaGourgue, Ph: 604-607-4000, [email protected], www.grandewest.com