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Sector Update: Industrials; Bombardier Wins New Work in Spain

By: MT Newswires
Posted: 6/13/2014 12:30:00 PM
Referenced Stocks:

Industrial shares were mostly advancing in afternoon trading, and the S&P/TSX Industrials index was up 0.9%.

Bombardier (BBD-B.TO): +2.2%

Air Canada (AC-B.TO): +0.4%

Canadian Pacific Railway (CP.TO): +1.9%

WestJet (WJA.TO): -1.0%

Ritchie Bros. (RBA.TO): +0.04%

In corporate news, Bombardier Friday said it has been selected to become a partner in a major consortium that was awarded a contract valued at approximately 339 million euros (US$459 million) for the upgrade of the High Speed North-North West Corridor rail signalling in Spain.

The project which includes the lines Valladolid - Leon and Venta de Banos - Burgos is being delivered by a consortium led by Alstom that includes Bombardier and Indra.

Bombardier's share is valued at approximately 144 million euros (US$195 million). It will implement its radio-based INTERFLO 450 ERTMS (European Rail Traffic Management System) Level 2 system for the Venta de Banos - Burgos section.