WINNIPEG, March 22, 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 Mississauga Transit ("MiWay") has approved
the purchase of ten (twenty equivalent units or "EUs") Xcelsior™ diesel
60-foot articulated heavy-duty buses and 14 diesel 40-foot Xcelsior™
The delivery of the 24th bus of this order will mark the 242nd bus that New Flyer has built and delivered to the transit agency since
our first collaborative build dating back to 1993.
"The BRT style buses will be put into service on the Mississauga
Transitway which is scheduled to open the first segment this Fall and
the articulated buses will replace retiring New Flyer buses after many
years of service to transit riders in Mississauga," said Geoff
Marinoff, Transit Director, MiWay.
"This order shows the key partnership that MiWay and New Flyer have
developed over the past twenty years," said Paul Soubry, President and
CEO of New Flyer. "We're pleased to once again be awarded the
opportunity to build for MiWay and are thrilled to have repeat
customers that believe in the quality of our buses and understand the
value of the strong support network that stands behind all of our
All 24 40- and 60-foot buses are expected to begin production in the
third quarter of 2013. Delivery of the buses is anticipated for the
third quarter of 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. The Company's three manufacturing
facilities - in Winnipeg, MB; St. Cloud, MN and Crookston, MN - are all
ISO 9001, ISO 14001 and OHSAS 18001 certified. The Company currently
operates a parts fabrication facility in Elkhart, IN and four parts
distribution centers in Winnipeg, MB; Brampton, ON; Erlanger, KY and
Fresno, CA. The Company also operates a service center in Arnprior,
With a skilled workforce of over 2,000 employees, New Flyer is a
technology leader, offering the broadest product line in the industry,
including drive systems powered by clean diesel, LNG, CNG and electric
trolley as well as energy-efficient diesel-electric hybrid vehicles.
New Flyer has delivered over 32,000 heavy-duty buses in Canada and the
United States. All products are supported with an industry-leading,
comprehensive parts and service network. Further information is
available on New Flyer's web site at www.newflyer.com.
The common shares and convertible unsecured subordinated debentures of
New Flyer 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.
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