This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Student Transportation Inc. Wins Largest Contract In Company History

Stocks in this article: STB

WALL, N.J., Dec. 18, 2012 (GLOBE NEWSWIRE) -- Student Transportation Inc . (STI) (TSX:STB) (Nasdaq:STB), and its subsidiary Student Transportation of America, Inc. (STA) today announced that the company has secured the largest transportation agreement in its history to serve the Omaha and Millard Public Schools in Nebraska. Under the contract with the Metropolitan Omaha Education Consortium (MOEC) Interlocal Transportation Association, the company will provide approximately 530 vehicles including over 400 new fuel-efficient propane-powered vehicles, making it the nation's largest propane-powered school bus fleet.

The contract, which begins in August 2013, is the first major contract win for the company's 2014 fiscal year and will add revenues of approximately $25 million a year for the potential six-year agreement. The company will open at least three facilities in the Greater Omaha area to service the contract and expects options to renew the revenue contract for future years after the initial six-year term. The company plans to offer all current employees opportunities to continue with STA.

Blue Bird Corporation will manufacture the over 400 environmentally friendly buses equipped with ROUSH CleanTech liquid propane autogas fuel system technology. IC Bus, a division of Navistar, will supply additional vehicles to fulfill the contract.

STI Chairman and CEO Denis J. Gallagher said the company has been working closely with the nation's leading manufacturers and suppliers to develop ways to increase alternative fuels into its fleet. "Domestically-produced, clean-burning propane autogas is a perfect fit for school fleets with up to 30% less greenhouse emissions," he said. "By running propane-powered buses, Omaha Public Schools can reduce their carbon dioxide emissions by 2,310,469 lbs. per year, significantly lowering the school district's carbon footprint, which was its goal for the coming year."

Propane sales currently contribute more than $122 million to Nebraska's economy alone.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs