Bombardier wins $31 million train order from Swedish co

Fri May 11, 2012 8:15am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters) - Bombardier Inc's (BBDb.TO: Quote) train unit won a $31 million order from Swedish investment company Bure Equity AB BURE.ST to deliver seven TRAXX locomotives.

Delivery of the locomotives, designed for freight transport in Sweden and Norway, is expected in the fourth quarter of 2012, Bombardier said.

Bombardier, the world's largest passenger-train maker, said the locomotives would be manufactured at its Kassel plant in Germany.

Bure has bought the locomotives to lease them to train operator RushRail AB.

Montreal-based Bombardier on Thursday reported a sharp drop in its quarterly results. Sales at its train unit fell 20 percent to $2 billion as it completed some major contracts in the Asia-Pacific region.

Bombardier shares closed at C$3.96 on Thursday on the Toronto Stock Exchange.

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Sriraj Kalluvila)