Cardo delivers brake equipment for new streetcar in Italy.
First order worth SEK 55 million.
Cardo's Rail business area and the Italian company Fiat Ferroviaria have signed a general agreement as a result of which Cardo Rail will supply electro-hydraulic brake systems and pneumatic equipment for Fiat Ferroviaria's new "Cityway" streetcar model for the next four years. Under the agreement, Cardo Rail has now received the first order worth SEK 55 million relating to equipment for 55 streetcar sets. The general agreement covers equipment for a total of 200 streetcar sets.
The first 200 streetcars of the new "Cityway" model are planned for the Italian cities of Turin and Messina. Fiat Ferroviaria will market the new streetcar concept in both Italy and other European countries.
Cardo Rail will deliver equipment for the first five prototype cars during the period October 2000 to January 2001. Series production for the "Cityway" will begin in October 2001. Production will be carried out at Cardo Rail's plants in Italy, France and the UK.
Cardo Rail is a business area in the Cardo group and one of the world's largest manufacturers of brake systems and brake components for rail vehicles. Its turnover amounts to approximately SEK 2.5 billion and it has about 2,000 employees. Marketing is mainly conducted under the SAB WABCO trademark.
Malmö, Sweden, June 7 2000
Cardo AB (publ)
For further information, please contact:
Kjell Svensson, President and CEO, phone +46 40 35 04 53, +46 40 35 04 00
Sven-Erik Persson, Executive Vice President, phone +46 40 35 04 50, +46 40 35 04 00
Christer Roskvist, Head of Public Relations, phone +46 40 35 04 25, +46 40 35 04 00