Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Grande West Transportation Group (TSXV:BUS) has won a new contract for a bus order, worth approximately $40 million. 
  • Grande West signed the contract on February 6th, and plans to deliver the purpose-built Vicinity Buses within the 2020 calendar year.
  • The company expects that the contract will result in record revenue.
  • The new buses will replace an old fleet currently operating in the USA.
  • Grande West’s share price has shot up by 44.19 per cent, with shares trading at $0.62 apiece.

Canadian vehicle manufacturer Grande West Transportation (BUS) has signed a $40 million contract with Alliance Bus Group (ABG).

ABG is Grande West’s exclusive U.S. distributor, and has made an order for new buses.

The company signed the contract on February 6th, and plans to deliver the purpose-built Vicinity Buses within the 2020 calendar year.

Grande West expects that the contract will bring in record revenue for the company.

The new order of buses will replace an old fleet, which is currently operating in multiple locations in the United States of America.

Grande West President and CEO, William Trainer, expressed the company’s excitement at the new contract and bus order. “It is with great pride that we will supply our Vicinity buses to such a large organisation.”

“This contract represents a significant milestone for the company. […] Our Vicinity bus has been vetted at the highest level from the agency and its bus operations division, to meet and exceed the most stringent quality and safety standards. An order of this size demonstrates U.S. market acceptance and confidence in our Vicinity bus.”

The stock exchange certainly reflects this confidence, with Grande’s West share price shooting up by 44.19 per cent. Company shares are trading at $0.62 apiece.

More From The Market Herald

" Vision Marine receives initial purchase order from The Limestone Boat Company (TSXV:BOAT)

Vision Marine has received a purchase order from The Limestone Boat Company (BOAT).

" Canadian Pacific (TSX:CP) launches carbon emissions calculator

Canadian Pacific (CP) launched a web-based carbon emissions calculator, giving customers greater insight into their carbon footprint.

" Maritime Launch (NEO:MAXQ) & Nanoracks partner with Ukraine’s Space Agency to develop a CubeSat Program

Maritime Launch Services (MAXQ) has signed a Letter of Intent with State Space Agency of Ukraine to support the development of a CubeSat
Bombardier - CEO, Éric Martel.

" Bombardier (TSX:BBD.A) celebrates entry-into-service of Challenger 3500

Bombardier’s (BBD.A) first customer-ordered Challenger 3500 has entered into service.