Hybrid Locomotive Maker Sees Stock Value 'Chug' Higher

Shares in Railpower Technologies Corp. (TSX:P) rocketed up nearly 30 per cent Friday as the stock continued its remarkable comeback after the U.S. Environmental Protection Agency certified its three-engine road switcher locomotive this week.

Published: 30-Dec-2006

Shares in Railpower Technologies Corp. (TSX:P) rocketed up nearly 30 per cent Friday as the stock continued its remarkable comeback after the U.S. Environmental Protection Agency certified its three-engine road switcher locomotive this week.

The shares were up 39 cents at $1.76 on the Toronto Stock Exchange - up from 58 cents before the announcement on Wednesday, but down from over $6 a year ago.

The regulatory clearance was a condition for payment in a contract signed with a major customer in November. Had the company not received approval, the customer was entitled to end the contract and receive a full refund on locomotives already delivered.

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