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Grande West Transportation Group (TSXV: BUS) announced a significant new order

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Grande West Transportation Group, a Canadian bus manufacturer of heavy-duty, mid-sized transit buses, announced a significant new order. British Columbia Transit ordered 39 Vicinity buses, valued at $13 million, for delivery starting late 2017 through early 2018.

Additional Information:

Company: Grande West Transportation Group
Website: http://www.grandewest.com
Stock Symbol: TSXV: BUS
Date Published: Jan 31, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Grande West Transportation Group, a Canadian bus manufacturer of heavy-duty, mid-sized transit buses, announced a significant new order. British Columbia Transit ordered 39 Vicinity buses, valued at $13 million, for delivery starting late 2017 through early 2018.

Grande West’s total firm orders for 2017 and early 2018 delivery stand at 214 buses, valued at more than $74 million.

Firm orders and options for 2018 to 2020 are currently at 90 buses.

Grande West Transportation designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises.

The company’s Best-in-Class Vicinity bus is available in 27.5, 30 and 35 foot models, powered by clean diesel or compressed natural gas, and are designed with affordability, accessibility and global responsibility in mind, burning less fuel and emitting less harmful emissions.

William Trainer, President and CEO, recently stated: "2016 has been a transformational year for Grande West as the hard work of the past eight years has come together. We have strengthened the team in advance of 2017 deliveries which will begin in January and are very excited about our business outlook. We have streamlined and increased efficiencies in operations, manufacturing, supply chain and quality control which will increase gross margin in all future Vicinity production. The recent Buy America certification has opened up increased tender opportunities in the US and we are currently bidding on opportunities to supply over 150 buses through our distributor ABG. As the order book for 2017 continues to grow, we will begin to populate the order book for 2018 and beyond."

On January 30th, Beacon Securities initiated coverage on Grande West, giving the company a 12-month target price of $2.50.

The shares are trading at $1.78 and with 55.3 million shares currently outstanding, the company is capitalized at $98.4 million.

For more information, please visit www.grandewest.com, conbtact John LaGourgue at 604-607-4000 or by email at jlagourgue@grandewest.com.

Investor relations is handled by Karl Mansour at Paradox Public Relations, who can be reached at 866-460-0408 or by email at karlmansour@paradox-pr.ca.

I’m Samantha Deutscher for Investmentpitch Media