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Virginia Railway Express Awards Sumitomo Corporation of America and Nippon Sharyo New Contract for 50 Gallery-type Bi-level Passenger Cars

February 16, 2012

NEW YORK, NEW YORK, February 16, 2012--- On February 15, 2012, Sumitomo Corporation of America in conjunction with its car builder partner Nippon Sharyo, received a contract award from Virginia Railway Express (VRE) for 50 Gallery-type Bi-level Passenger Cars. The base order is to supply 8 cars at a contract price of $21 million and is scheduled to be delivered in 2014. This contract includes an option for VRE to purchase up to an additional 42 cars. If the option is exercised, the total contract would amount to $119 million. VRE will use the cars procured through this contract to update its fleet by replacing some of their older cars and adding more cars to handle their increase in ridership.

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