WINNIPEG, Nov. 13, 2012 /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 Alameda Contra Costa
Transit ("AC Transit") located in Oakland, CA has approved the purchase
of 23 (46 equivalent units or "EUs") Xcelsior diesel 60-foot heavy-duty
The order for 23 buses (46 EUs) was placed using options from another US
transit authority. The original contract signed June 4, 2012, enables
the assignment of up to 155 options of which 130 still remain after
this procurement and are currently included in New Flyer's backlog.
From 1988 to1997, New Flyer manufactured 168 high-floor modeled 40- and
60-foot heavy-duty diesel buses for AC Transit. Today, AC Transit's
active fleet size consists of nearly 700 buses in an array of bus
lengths and servicing a variety of routes. The 23 articulated buses,
once in service will account for 18% of AC Transit's 60 foot
"Our new purchase of Xcelsior buses will keep in line with our mission
to provide safe, reliable and efficient public transit service in the
East Bay," said David Armijo, General Manager, AC Transit.
"The last New Flyer buses acquired by AC Transit were high-floor
models," said Paul Soubry, New Flyer's President and Chief Executive
Officer. "We are confident AC Transit will enjoy our low-floor Xcelsior
bus as it provides greater accessibility, improved fuel efficiency,
reduced interior and exterior noise and improved styling amenities."
Production of the twenty-three buses is anticipated to begin in March
2013, with delivery expected by August 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the
United States and Canada. The Company's three manufacturing facilities
- in St. Cloud, MN 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 Erlanger, KY; Fresno, CA; Winnipeg, MB and Brampton, ON. The
Company also operates a service center in Arnprior, 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.
New Flyer has delivered over 32,000 heavy-duty buses in the United
States and Canada. 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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