Calgary Transit awards New Flyer a contract for 150 40-foot clean diesel Xcelsior™ buses
WINNIPEG, Sept. 26, 2013 /CNW/ - (TSX:NFI; TSX:NFI.DB.U) New Flyer Industries Inc. ("New Flyer" or the "Company"), the leading manufacturer of heavy-duty transit buses in Canada and the United States, announced today that Calgary Transit has awarded the Company a contract for 150 Xcelsior™ 40-foot heavy-duty clean diesel powered transit buses.
Calgary Transit operates an active fleet of 945 heavy duty transit buses and over the past 20 years New Flyer has built and delivered 653 buses to the authority of which nearly all are still in active service today. Calgary Transit's most recent New Flyer purchase of ten 60-foot diesel buses, made earlier in the year was their first introduction to the Xcelsior™ next generation transit bus platform. New Flyer also recently delivered two 40-foot compressed natural gas (CNG) powered Xcelsior™ buses to Calgary Transit for testing and evaluation.
"With Calgary Transit ridership steadily increasing year-over-year, there is a great need for us to increase our accessibility, while continuing to provide our customers with safe and courteous public transportation services," said Doug Morgan, Director Calgary Transit. "These new buses will help fill that need and we're excited to have the Xcelsior™ buses start servicing routes around our city."
"We are honoured to have the confidence of Calgary Transit and to continue manufacturing buses for them," said Paul Soubry, President and Chief Executive Officer at New Flyer Industries. "New Flyer continues to strive at providing world class buses with the latest in technology, industry leading customer service, and the most comprehensive portfolio of aftermarket support for the life of its buses".
This new contract for 150 Xcelsior™ buses are anticipated to begin production in the fourth quarter of 2013 and all buses are expected to be delivered by the end of 2014.
About New Flyer
New Flyer, with its recently acquired NABI subsidiary, is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company is the industry technology leader and offers the broadest product line including drive systems powered by: clean diesel, natural gas and electric trolley as well as energy-efficient diesel-electric hybrid vehicles. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer and NABI also operate the transit industry's most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of heavy-duty transit buses.
Together New Flyer and NABI employ over 3,000 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States. Further information is available on New Flyer's web site at www.newflyer.com.
The common shares and convertible unsecured subordinated debentures of the Company are traded on the Toronto Stock Exchange under the symbols NFI and NFI.DB.U, respectively.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Company that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to terminate contracts for convenience and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
SOURCE New Flyer Industries Inc.For further information: