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Bombardier Unit Bags US$267 Mln Rail Cars Supply Contract From New Jersey Transit - Update

(RTTNews) - Bombardier Transportation, the railway division of Canadian transportation major Bombardier Inc., (BBD_A.TO), Wednesday said it has won an order valued US$267 million from New Jersey Transit Corp.

As per the terms, Bombardier is to supply 100 MultiLevel commuter rail cars to New Jersey Transit, with an option for supplying an additional 79 vehicles.

The order, Bombardier Transportation said, represents the company's second contract for this type of vehicle. Way back in 2003, Bombardier had supplied 329 such vehicles.

President of Bombardier Transportation Raymond Bachant noted, "We are proud to be a partner with NJ Transit in offering rail transportation as a solution for increasing mobility, reducing congestion, and benefiting the environment and the regional economy."

NJ Transit is the largest statewide public transportation system in the United States, and over the years Bombardier has provided hundreds of push-pull commuter coaches and MultiLevel vehicles to NJ Transit, the company said.

Earlier today, Bombardier Inc. reported a sharp decline in second-quarter profit, hurt by the weakness in its Aerospace business amid the ongoing economic uncertainty.

Bombardier's net income attributable to shareholders fell US$0.08 per share from US$0.11 a year ago. Consolidated revenues were lower at US$4.08 billion versus US$4.95 billion last year.

BBD_A.TO closed Tuesday's trading C$4.44, down C$0.06, on a volume of 79,700 shares on the TSE.