Posted AT 8:04 AM EST on 15/08/08
Bombardier orders battery chargers from Turbo Power
CALGARY — Cash-short Turbo Power Systems Inc., a U.K.-based company that lists its shares in Canada, has received a new contract order from Bombardier Inc. for the supply of battery chargers for the Bombardier Turbostar trains.
At the same time, Turbo Power also announced that it is taking steps to deal with a shortage of available cash that resulted after its second-quarter results put the company in default of some of its debt covenants.
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