Orders Valued At $180 Million Including Options
WILMERDING, Pa., June 12, 2006 -- Wabtec Corporation (NYSE: WAB) today announced that its MotivePower subsidiary has signed contracts to build MPXpress® commuter locomotives for the Utah Transit Authority (UTA) and Southern California Regional Rail Authority (SCRRA) as part of a multi-city, commuter agency procurement. Under the contracts, 11 locomotives are scheduled for delivery to UTA in 2007, with 11 more to be delivered to SCRRA into 2008, for a combined value of about $60 million.
The order includes options for an additional 45 units for an additional $120 million, to be exercised by various agencies within the next five years, for a total potential value of about $180 million. The multi-agency procurement includes the UTA, SCRRA, Massachusetts Bay Transportation Authority of Boston and Northstar Commuter Rail Project of Minneapolis.
The MPXpress® locomotives will be built at MotivePower's Boise, Idaho facility, with work scheduled to begin on the base order this year. The locomotives will contain a number of components produced by other Wabtec subsidiaries, including the microprocessor control system, braking equipment, brake shoes and radiators.
"We're pleased to be selected by these agencies to provide these new, high-efficiency locomotives," said Albert J. Neupaver, Wabtec's president and chief executive officer. "With recent deliveries to Chicago, San Francisco and Albuquerque, and new orders for Toronto, Salt Lake City and Los Angeles, MotivePower's MPXpress® locomotives have proven to be the locomotive of choice for commuter agencies in North America."
The streamlined locomotives will have significant technological improvements compared to the current equipment used by these transit authorities, including higher-horsepower engines to increase acceleration, greater fuel efficiency, reduced emissions and microprocessor controls. They will also meet new crashworthiness and safety standards set by the American Public Transportation Association.
Steve Meyer, UTA manager of engineering and construction, said: "Utah Transit Authority is pleased to be working with MotivePower to supply locomotives for UTA's FrontRunner Commuter Rail System. We have been impressed with MotivePower's past performance in supplying locomotives to other commuter rail systems."
Wabtec Corporation (www.wabtec.com) is a global provider of value-added, technology-based products and services for the rail industry.
Tim Wesley at (412) 825-1543
1001 Air Brake Avenue
Wilmerding, PA 15148