WINNIPEG, Oct. 24, 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 the United States and
Canada, announced today that Regional Transportation District ("RTD")
in Denver, Colorado has awarded New Flyer a five year contract to build
up to 192 diesel 60-foot Xcelsior® heavy-duty transit buses (or 384 equivalent units or "EUs").
This is the first time the Company will build buses for RTD. The
contract, which contains a firm order for 52 buses using New Flyer's
Xcelsior® platform, of which 12 of these buses will be built using New Flyer's
Bus Rapid Transit ("BRT") styling. The contract also contains up to 140
options that may be awarded at a later date with the option to build
buses of diesel-hybrid, CNG or clean diesel propulsion.
RTD has an active transit bus fleet of 572 buses with an average bus
fleet age of over 10 years. The addition of these 52 Xcelsior® buses will help RTD serve their 2.8 million service area population
encompassed in the 40 municipalities, 6 counties and 2 city/county
jurisdictions. The BRT style buses will be used to implement the new
"metroRide service", RTD's new free downtown circulator being
implemented to correspond to the opening of Denver Union Station as the
new multimodel transportation hub in downtown Denver.
"We look forward to a highly productive working relationship with New
Flyer that benefits our passengers, bus operators and maintenance
teams. Adding New Flyer to our bus fleet helps us embark on another
exciting chapter in RTD's long history of providing the best possible
vehicles and service to our customers," said Bruce Abel, RTD Assistant
General Manager of Bus Operations.
"We're privileged to be awarded this contract by RTD," said Paul Soubry,
New Flyer's President and Chief Executive Officer. "We are excited to
not only have RTD as a new customer, but thrilled that we can produce
our Xcelsior model in both the 60-foot and 60-foot BRT styling."
Production of the 12 60-foot BRT-styled buses is scheduled to begin in
the first quarter of 2014 with all buses being delivered by the second
quarter 2014. The 52 60-foot Xcelsior® buses will be manufactured beginning in the first quarter of 2014 and
will all be completely manufactured and assembled at New Flyer of
America's St. Cloud, Minnesota manufacturing facility.
About New Flyer
New Flyer, with its recently acquired NABI Bus, LLC 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 its subsidiaries NABI Bus, LLC and
NABI Parts, LLC 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
The New Flyer group of companies 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.
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