Royal Laser Tech Wins $30 Million Bus Contract

TORONTO, Ontario, Canada, Feb. 27 -- Royal Laser Tech Corp., a producer of metal parts and assemblies, has entered into a supply agreement with Orion Bus Industries, a subsidiary of Freightliner LLC, to fabricate and supply components of the Orion VII bus frame to Orion over the next three years. The contract should result in revenues to Royal Laser of between $25 and $35 million per year.
"This is a terrific opportunity and a very good deal for Royal Laser," said Bill Iannaci, president of Royal Laser. "We have been seeking to solidify and expand supply relationships with excellent strategic customers such as Orion Bus. This work will substantially change the revenue base of our industrial operations and is, I think, merely an indication of things to come. Our engineering skills and our ability to produce at cost effective prices for our customer helped us to secure this contract."