Powell Industries Receives $39 Million Contract for Phase Two of the
Washington DC Dulles Airport Metrorail Extension
HOUSTON, Oct. 1, 2013
HOUSTON, Oct. 1, 2013 /PRNewswire/ -- Powell Industries, Inc. (NASDAQ: POWL),
a leading supplier of custom engineered solutions for the management and
control of electrical energy and other critical processes, today announced
that it has received a $39 million contract to supply the packaged electrical
power systems to distribute and control the power needs for Phase Two of the
Washington DC Dulles Corridor Metrorail Silver Line Extension.
This contract includes nine Traction Power Substations and six Tie Breaker
Substations to distribute and control the electrical power for eleven miles of
track. The substations feature Powell's advanced PowlSmart^® technology,
which provides operators with instant information and remote acquisition and
control of switchgear, as well as system integration. Powell has been a major
supplier of power related equipment for electric rail projects for more than
20 years and supplied the Traction Power Substations for the first phase of
Dulles Metrorail, which is scheduled to open in early 2014. This order was
recorded in Powell's backlog in the fourth quarter of fiscal 2013, and
Powell's equipment is expected to be delivered in 2015 through 2017.
The Silver Line is one of the largest infrastructure projects in the United
States, with a total estimated price tag of $5.6 billion. The 23 mile line
will extend train service through Tysons Corner to Dulles International
Airport and into Virginia's Loudoun County.
Mike Lucas, Powell Industries President and CEO, stated, "We are extremely
pleased to have been awarded another large-scale project for traction power
systems in the Washington, DC area. We have more than a twenty year history
with Washington Metropolitan Area Transportation Authority and are
appreciative that Powell has again been chosen to provide the electrical power
systems for increased service and ridership on the existing Washington
Metrorail system. We have a positive, long standing relationship with WMATA,
and Powell has received awards for both performance and safety from previous
"This second phase of the Dulles Metrorail Extension project is a perfect
example of Powell's expertise. It demonstrates our ability to bring the
necessary engineering, integration, and project management resources together
to deliver the customized solution required by a complex project of this
Powell Industries, Inc., headquartered in Houston, engineers packaged
solutions and systems for the control, distribution and management of
electrical energy and other dynamic processes. Powell markets include large
industrial customers such as utilities, oil and gas producers, refineries,
petrochemical plants, pulp and paper producers, mining operations, commuter
railways and other vehicular transportation facilities.For more information,
please visit powellind.com.
Any forward-looking statements in the preceding paragraphs of this release are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties in that actual
results may differ materially from those projected in the forward-looking
statements. In the course of operations, we are subject to certain risk
factors, competition and competitive pressures, sensitivity to general
economic and industrial conditions, international political and economic
risks, availability and price of raw materials and execution of business
strategy. For further information, please refer to the Company's filings with
the Securities and Exchange Commission, copies of which are available from the
Company without charge.
Contacts: Don R. Madison, CFO
Powell Industries, Inc.
SOURCE Powell Industries, Inc.
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