Bombardier and Consortium Partners Win Contract for Automated People Mover System at Los Angeles International Airport

Bombardier Transportation / Bombardier and Consortium Partners Win Contract for Automated People Mover System at Los Angeles International Airport . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

• Project represents first automated people mover system procured through a Public-Private Partnership in the United States
• With this contract, nine of the ten busiest airports in the United States have chosen Bombardier for their automated transit systems

BERLIN, June 11, 2018 (GLOBE NEWSWIRE) --

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Rail technology leader Bombardier Transportation announced today that LAX Integrated Express Solutions (LINXS), of which it is a member with a ten percent share, has finalized a contract with Los Angeles World Airports to design, build, finance, operate and maintain an automated people mover (APM) system at Los Angeles International Airport (LAX). The total contract is valued at approximately $4.9 billion US (4.2 billion euro). LINXS has attributed two contracts to joint ventures (JVs): one for the design-build portion and one for the operations and maintenance portion. The JV in charge of the design and build portion has awarded a contract to Bombardier valued at approximately $219 million US (187 million euro). In addition, Bombardier has a 55 percent share in the operations and maintenance JV, which was awarded a contract valued at $576 million US (490 million euro). The financial close of this Public-Private Partnership contract follows an announcement made by Los Angeles World Airports on February 15 selecting LINXS as the Recommended Developer, and contract signature in April.

Bombardier will be responsible for the design and supply of 44 BOMBARDIER INNOVIA APM 300 vehicles, signalling, and onboard and wayside communication systems, and will lead a joint venture that will provide operations and maintenance services for the system and related facilities for a 25-year period, following completion of the construction.

Benoit Brossoit, President, Americas Region, Bombardier Transportation, said, "We are proud to be a member of the LINXS team and to partner with Los Angeles International Airport in bringing a new mobility option to the traveling public. With this contract, nine of the ten busiest airports in the United States have chosen Bombardier for their automated transit systems. We are confident that we will deliver Los Angeles a modern and dependable APM system worthy of a world-class airport."