ALSTOM Wins $60 Million Follow-On Contract From Chicago Transit Authority for Subway Refurbishment.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 3, 2001 The Chicago Transit Authority
See: New York Stock Exchange :ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. ) of its decision to award the company a third optional contract worth over $60 million for the refurbishment of 108 subway cars. This follow-on order comes within the framework of a base CTA An abbreviation for cum testamento annexo, Latin for "with the will annexed." contract awarded to ALSTOM in December 1997, worth $169 million, for the overhaul of 284 subway cars. With the latest contract, ALSTOM has received refurbishment orders for a total of 598 CTA series 2600 subway cars, worth a total of $344.6 million. This fleet refurbishment allows the CTA to improve rail service and will extend the operating life of its series 2600 subway cars by 15-20 years. The cars are being fitted with an upgraded propulsion system Noun 1. propulsion system - a system that provides a propelling or driving force system - instrumentality that combines interrelated interacting artifacts designed to work as a coherent entity; "he bought a new stereo system"; "the system consists of a motor and a and an advanced cab signal system. The interior refurbishment work includes the installation of air conditioning, a public address system and improved lighting. Further improvements include vandal-proof shields for windows and silicone cleats to reduce long-term wear on the high-voltage cabling under the car. All work for the CTA contracts has been carried out at ALSTOM's extensive industrial facilities in Hornell, New York Hornell is a city in Steuben County, New York, United States. The population was 9,019 at the 2000 census. The city is named after the Hornell family, early settlers. Its current population is mainly made up of Irish Americans and Italian Americans. . This most recent contract came into force on June 28. Deliveries will be made at a rate of 14 cars per month, with no disruption to CTA's revenue service, and a finish date per CO 3 of December 2003. Contract milestones -- December 1997: base CTA contract awarded to ALSTOM; refurbishment of 284 subway cars; worth $169.2 million -- September 1999: first optional contract; additional 96 cars; worth $54.4 million -- September 2000: second optional order for 110 cars, worth $60.9 million -- June 2001: third (final) optional order; 108 additional cars; worth over $60 million ALSTOM Transport, with sales of over 4 billion euros and a 17% market share, is a leading supplier of rolling stock rolling stock Any of various readily movable transportation equipment such as automobiles, locomotives, railroad cars, and trucks. Rolling stock generally makes good collateral for loans because the equipment is standardized and easily transportable among , signaling, services and railway systems to the rail industry world-wide. www.transport.alstom.com |
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