Turbo Power Systems soars on 7.7m-dollar rail order
Shares in Turbo Power Systems(TPS) advanced sharply on Thursday after the AIM-listed engine and generator manufacturer received a further purchase order from Bombardier Transportation worth 7.7m dollars.
Shares in Turbo Power Systems(TPS) advanced sharply on Thursday after the AIM-listed engine and generator manufacturer received a further purchase order from Bombardier Transportation worth 7.7m dollars.
The company announced an initial contract with Bombardier Transportation in January 2007, in support of its contract with the Chicago Transit Authority, worth over $14.2m to supply auxiliary power units for its fleet of metro subway cars.
The agreement included a number of phased extension options, the company said.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Bombardier Transportation said it had now activated the last of these options, being a follow-on order to TPS for further auxiliary power units, which were expected to be fulfilled during 2013 and 2014.
Carlos Neves, TPS Chief Executive Officer, said: "We are delighted that Bombardier Transportation has chosen to activate this option. Before this extension, we have already supplied over 300 units and are pleased to be providing more."
He added: "Whilst this purchase order was included in our expectations for 2013 and 2014, it is very pleasing to have reaffirmed our relationship with Bombardier Transportation and to have received the validation that it gives to the equipment that we supply."
TPS' share price was up 46.67% to 0.55p at 09:14 on Thursday.
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Two thirds of easy access savings accounts come with restrictions – can you access your savings in an emergency?
Out of the top 30 easy access savings on the market, 22 come with some sort of restriction on how fast you can access your money, according to new research.
-
Most popular London boroughs: Full list of in-demand places to move to
A deluge of people move to or within Britain’s capital each year – but which area is the most popular? We look at the most in-demand London boroughs in 2025.