PRESS ANNOUNCEMENT - 7th July, 2004
(immediate release)
SRA TO SUPPORT TRIAL OF PARRY PEOPLE MOVERS LIGHT RAILCAR
A statement by John P M Parry MBE, Chairman, Parry People Movers Ltd The SRA has agreed to support the long proposed experimental service that is to be provided by a Parry People Movers light railcar on the branch line between Stourbridge Junction and Stourbridge Town. The SRA's support will complement contributions from CENTRO (the West Midlands passenger transport executive), which initiated the Stourbridge project.
The SRA's interest in the PPM system is in the context of its plan, now under study, to convert a number of branch lines of the national rail system to 'Community Railways'. These services, now heavily subsidised, could be locally operated and subject to less stringent standards than mainline services, resulting in revived patronage and large savings for the taxpayer. The SRA has identified about a dozen branch lines, like Stourbridge segregated from the rest of the system, where PPM could play a useful role.
The PPM system is based on the storage of energy in a flywheel and the company has designed a family of bus-sized railcars and tramcars, the latter capable of operation without overhead wires and on movable 'carpet track'. Company strategy is to demonstrate the technology in public service on existing track (hence the Stourbridge railcar) before moving on to develop the much larger market for low-cost, wire-free, urban trams. The SRA's support for the railcar service is thus an important breakthrough for the company.
PPM's 50 passenger 'Car 12', destined for Stourbridge, is now operating in passenger service on the privately owned Chasewater Railway, in the country park close to the Burntwood junction on the new M6 toll road. An earlier version is about to enter service for the Cambrian Railway Society in Oswestry and PPM service on a number of other preserved railways is under consideration.
Parry People Movers Ltd is now proposing to build an 80 passenger railcar, as would be required by the SRA if trials on the national network are successful, and is at present raising up to £250,000 through the issue of entitlement shares and convertible loan stock.
John P M Parry
CHAIRMAN
Parry People Movers Ltd
The directors of the issuer accept responsibility for this announcement.
For further information please contact:
John Parry, Chairman of Parry People Movers
Ltd
+44 (0) 1384 569171, mobile 07711 623003 or e-mail
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