Grande West Announces Vicinity Bus Orders
February 03 2014 - 8:30AM
Marketwired
Grande West Announces Vicinity Bus Orders
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 3, 2014) -
Grande West Transportation Group Inc. (TSX-VENTURE:BUS) ("Grande
West" or the "Company") is pleased to announce the purchase orders
for 4 Vicinity buses by Veolia Transdev Quebec Inc. comprised of 3
new buses and the purchase of the existing Vicinity demonstration
bus.
These 3 new Vicinity buses will be added to the current
in-progress production run of 12 buses. The revenue of $3.8 million
for the sale of these 15 Vicinity buses is to be recognized when
delivery acceptance occurs which is scheduled for the 3rd quarter
ending May 31st of fiscal 2014. The sale of the existing Vicinity
demonstration bus will be recorded in February, the 2nd quarter of
fiscal 2014. Of the 15 Vicinity buses, 12 are for Quebec and 3 for
a Nova Scotia transit authority as a result of recent sales
efforts.
Due to the sale of the existing Vicinity demonstration bus, 3
new demonstration buses including a new 30 foot model with 2 doors
have been added to the current production run. These 3 Vicinity
buses will be utilized for marketing and customer testing in key
markets across the country.
The 30 foot Vicinity bus has been specifically designed for the
needs in the Ontario transit market. This bus will be demonstrated
in Ontario, being Canada's largest transit market, and also will be
utilized as a demonstration Vicinity bus for airport shuttle bus
applications.
About Grande West Transportation Group Inc.
Grande West was formed in 2008 to design and develop a 27.5 foot
bus, known as the "Vicinity." With little competition in the
"mid-size" bus range, Grande West has set itself apart from others
with its Vicinity bus - a heavy duty mid-size, true community
transit bus.
The Vicinity is designed with affordability, accessibility and
global responsibility in mind. It costs half the amount as a 40
foot transit bus, burns less fuel, emits less harmful environment
emissions and achieves a life span twice as long as cut-away buses
with less maintenance costs.
In a large and unsaturated market, Grande West is poised to
capture growth in both the replacement of cut-away buses and better
bus size utilization on transit routes across Canada and the United
States.
Initial deliveries of 15 Vicinity buses occurred in August 2013
to BC Transit. Currently production is underway for 12 Vicinity
buses for Quebec and 3 Vicinity buses for a Nova Scotia transit
authority, resulting from recent sales efforts. For marketing and
customer testing, 3 Vicinity demonstration buses are also in the
current production run including a new 30 foot model for the
Ontario market and for airport shuttle bus applications.
Neither TSX Venture Exchange nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain "forward-looking" statements that
involve known and unknown risks, uncertainties, future expectations
and other factors which may cause the actual results, performance
or achievements of the Company or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. When used in this news release, these statements may
include words such as "anticipate", "estimate", "may", "will",
"expect", "believe", "plan" and other terminology. These statements
reflect current expectations regarding future events and operating
performance and speak only as of the date of this news release.
Except as required by law, we assume no obligation to update or
revise forward-looking statements to reflect new events or
circumstances. Additional information is available in the Company's
Management Discussion and Analysis, which can be found on SEDAR at
www.sedar.com.
Grande West TransportationWilliam R. TrainerPresident &
CEO(604) 607-4000info@grandewest.comwww.grandewest.comThe Howard
Group Inc.Jeff WalkerInvestor
Relations1-888-221-0915info@howardgroupinc.comwww.howardgroupinc.com
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