BUZZ-Ballard Power Systems: Deal for fuel-cell powered buses in China

Mon Jun 8, 2015 8:11am EDT
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** Fuel-cell products maker's U.S.-listed shares up 12 pct at $2.35 before the bell

** Company signs $10 mln contract with two Chinese electric bus makers for 33 fuel-cell powered buses

** Majority of deal value expected to be recognized in 2015; Analysts expect FY 2015 rev of $60 mln, according to Thomson Reuters I/B/E/S

** New deal is expanded version of deal singed in April

** Ballard also gets non-exclusive license for local assembly of certain power modules; will be exclusive supplier of fuel cell stacks for such modules

** Stock is up 10.5 pct this year through Friday, having reversed course in mid-February after an IP deal with Volkswagen