Wabtec Receives Order For MPXpress(R) Commuter Locomotives From Virginia Railway
August 18 2009 - 8:33AM
PR Newswire (US)
WILMERDING, Pa., Aug. 18 /PRNewswire-FirstCall/ -- Wabtec
Corporation (NYSE:WAB) said its MotivePower subsidiary has received
an order for 12 MPXpress commuter locomotives for about $44 million
from Virginia Railway Express (VRE), a commuter railroad that
serves the suburban communities of Northern and Central Virginia.
Delivery will begin in the summer of 2010. The locomotives will be
manufactured in Boise, Idaho and are fully compliant with Buy
America regulations. VRE has an option to acquire an additional
eight locomotives, which would bring the total value of the order
to more than $73 million. VRE used resources from two federal
earmarks from U.S. Sen. James Webb, federal formula funds and a
recent award of stimulus money under the American Recovery and
Reinvestment Act to increase its initial order from five
locomotives to the current 12. "With our MPXpress locomotives
serving commuters throughout North America, we are pleased to be
the proven industry standard with a safe, environmentally friendly
and highly reliable product that provides economic value to our
customers," said Albert J. Neupaver, Wabtec's president and chief
executive officer. Since introducing the first MPXpress model in
2003, MotivePower has continued to improve upon its
industry-standard-setting technology and design. The MPXpress
includes the latest technology advancements and meets the latest
crashworthiness and safety standards recommended by the American
Public Transportation Association. In addition, the locomotive's
higher horsepower engines can move more passengers within the same
schedule with improved fuel efficiency and emissions that are more
than 60% cleaner than the locomotives they replace. The units also
contain a number of components produced by other Wabtec
subsidiaries. Dale Zehner, VRE's chief executive officer, said:
"The acquisition of these state-of-the-art MotivePower MP-36
locomotives is the lynch pin in VRE taking that next step in
modernizing our fleet while expanding the potential opportunities
for service expansion. Once these units are in service, VRE will be
poised to make our operation even more reliable. I am confident
that these MotivePower locomotives (with their higher horsepower
and increased Head End Power capacity) will be paramount in
providing improved commuter rail service to the people of Virginia
in the coming years." Wabtec Corporation (http://www.wabtec.com/)
is a global provider of value-added, technology-based products and
services for the rail and transit industry. Through its
subsidiaries, the company manufactures a range of products for
locomotives, freight cars and passenger transit vehicles. The
company also builds new switcher and commuter locomotives, and
provides aftermarket services. The company has facilities located
throughout the world. MotivePower
(http://www.motivepower-wabtec.com/) is an industry leader in the
design, manufacture and re-manufacture of diesel-electric
locomotives. DATASOURCE: Wabtec Corporation CONTACT: Tim Wesley of
Wabtec Corporation, +1-412-825-1543, Web Site:
http://www.wabtec.com/
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