WINNIPEG, MB, June 1, 2012 /CNW/ - (TSX:NFI, TSX:NFI.UN) New Flyer
Industries Inc. ("New Flyer"), the leading manufacturer of heavy-duty
transit buses in Canada and the United States, announced today the
unveiling of its prototype all-electric 40-foot Xcelsior heavy-duty
The unveiling was hosted by Manitoba Premier Greg Selinger and
representatives from the partnership including: the Manitoba
Government, Mitsubishi Heavy Industries ("MHI"), New Flyer's
subsidiary, New Flyer Industries Canada ULC, Manitoba Hydro and Red
The prototype is based on New Flyer's successful 40-foot Xcelsior
heavy-duty transit bus, North America's most advanced bus platform
available today. The bus is equipped with an electric drive and is
modified to carry advanced lithium ion batteries from MHI that are
charged from the city's electrical grid instead of by a conventional
"New Flyer has been manufacturing buses for over 80 years and this is
just another example of where we lead the bus industry in innovation,"
said New Flyer's President and Chief Executive Officer Paul Soubry.
"From the introduction of low-floor buses, to articulated buses, to the
industry's first programmable logic control systems, New Flyer has
continually set the pace." Mr. Soubry further explained, "We have
chosen to launch the electric bus prototype on the same bus platform
into which New Flyer's diesel, diesel-electric hybrid, compressed
natural gas and electric trolley can be incorporated to give customers
a variety of propulsion options for their fleet, while still providing
them with standardization for operating cost optimization."
Further demonstration and testing of the electric bus will occur during
the next two years starting with dry-run operational testing by project
personnel and then moving to operation under select route conditions.
The electric bus project is the first major activity undertaken under
the Memorandum of Understanding on Renewable Energy Development between
Manitoba and Mitsubishi Heavy Industries, signed in 2010. The
agreement created the structure for a series of potential collaborative
projects between Manitoba and MHI in eight areas: electrification of
transportation and recharging infrastructure projects; battery-storage
technologies; heat-pump technologies; advanced biofuels technologies;
wind-energy technologies; energy-efficiency technologies and systems;
solar technologies and silicon processing; and integrated energy
production, storage and utilization demonstrations.
Chris Stoddart, New Flyer's Vice President, Engineering Services
commented, "We are thrilled to be part of this exciting partnership
lead by the Province of Manitoba. The electric bus is a great example
of superlative collaboration of government, educational institutions
and industry for a common goal. The future is definitely green."
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. New Flyer's three manufacturing
facilities - in Winnipeg, MB; St. Cloud, MN; and Crookston, MN - are
all ISO 9001, ISO 14001 and OHSAS 18001 certified. New Flyer currently
operates a parts fabrication facility in Elkhart, IN and four PDCs in
Winnipeg, MB; Erlanger, KY; Fresno, CA and Brampton, ON.
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.
All products are supported with an industry-leading, comprehensive
parts and service network.
New Flyer has delivered over 31,000 heavy-duty buses in Canada and the
Further information is available on New Flyer's web site at www.newflyer.com.
The common shares and income deposit securities of New Flyer are traded
on the Toronto Stock Exchange under the symbols NFI and NFI.UN,
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of New Flyer
and New Flyer Industries Canada ULC ("NFI ULC") 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, there is no production version of the prototype and the
prototype must be tested, marketed and sold to customers, there may be
no demand for an all-electric bus from customers, the economic
conditions of and funding availability for customers to purchase buses
and to purchase parts or services 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, New Flyer and NFI ULC
disclaim 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:
New Flyer Industries Inc.
Chief Financial Officer