Grande West receives $40 million United States Vicinity order
VANCOUVER, Oct. 10, 2017 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) – October 10, 2017: ("Grande West" or the "Company"), a Canadian bus manufacturer of heavy-duty mid-sized transit buses for sale in Canada and the United States, is pleased to announce it has received a new order from Alliance Bus Group for over $40 million CAD.
The order is for over one hundred (100) Vicinity buses for deliveries into the US market. Deliveries will begin arriving in Atlanta in December and will average approximately ten per month.
William Trainer, CEO of Grande West stated, "This order is a reaffirmation of our advancing momentum in the US market. ABG's order for over 100 Vicinity buses is a substantial increase from the last order of 50 buses delivered during 2017. Our sales team is heavily engaged with ABG's sales staff and we are working diligently to seek and fulfill US bids in both the private and public markets. At this time, ABG is now capable of broad reach into the public side given our operational Buy America production capacity. This order extends the deployment of our Buy American buses as well as continue our development in the private market."
Doug Dunn, Alliance Bus Group's CEO commented, "We began our partnership with Grande West in 2015 and have worked to present the benefits of the Vicinity to our client base. This order is a confirmation that our client base sees the Vicinity as a leading product in its class. The Vicinity is innovative, offers the highest design quality of buses in it class, actually Altoona tested Best in Class, and is very competitively priced. This combination of benefits is hard to beat and gives our sales staff plenty of leverage in the marketplace. We are already increasing our bid opportunities and expect to deploy these Vicinity buses across the US in private and public transportation companies."
Grande West's total firm orders for 2017/2018 delivery are for over three hundred fifty (350) buses valued at over $130 million. This current backlog includes pre-announced third quarter deliveries of seventy five (75) buses for approximately $25 million in revenue and will be adjusted when third quarter financials are officially reported on October 31, 2017.
About Grande West Transportation Group
Grande West Transportation Group is a Canadian bus manufacturer which designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises. Grande West's Best-in-Class Vicinity bus is available in 27.5, 30 and 35 foot 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.
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 Buy America certified, and along with ABG, its exclusive US distributor, is actively pursuing opportunities in public and private transit fleet operations that would benefit from the Vicinity.
For further information please contact:
Grande West Transportation
John LaGourgue
Ph: 1-604-607-4000
[email protected]
www.grandewest.com
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
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.
Grande West Transportation, John LaGourgue, Ph: 1-604-607-4000, [email protected], www.grandewest.com
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