City of Phoenix Exercises Options for 32 New Flyer Transit Buses

WINNIPEG, May 30, 2017 /CNW/ - (TSX: NFI) (TSX: NFI.DB.U) New Flyer Industries Inc. ("New Flyer" or the "Company"), the largest transit bus and motor coach manufacturer and parts distributor in North America, announced today that the City of Phoenix exercised options under its contract for 40-foot and 60-foot articulated heavy-duty Xcelsior® buses for a total of 54 equivalent units.

This order is comprised of 20 60-foot articulated Xcelsior diesel-powered buses, two 60-foot articulated Xcelsior compressed natural gas-powered buses (CNG), and 10 40-foot Xcelsior CNG-powered buses. These buses will replace the City of Phoenix's existing fleet that have reached the end of their useful life.

Over the past 10 years, New Flyer has delivered over 250 buses to the City of Phoenix.  "New Flyer is proud to be in a position to provide industry-leading buses to the City of Phoenix. Many of the 60-foot buses are used on the City of Phoenix express routes allowing the City to move more passengers while providing safe and reliable transportation," said Paul Smith, Executive Vice President, Sales, Marketing and Customer Program Management.

About The Company

The Company is the largest transit bus and motor coach manufacturer and parts distributor in North America with fabrication, manufacturing, distribution and service centers in Canada and the United States and employs approximately 5,000 team members.

Through its Canadian and U.S. subsidiaries, New Flyer Industries Canada ULC and New Flyer of America Inc., the Company is North America's heavy-duty transit bus leader and offers the broadest transit bus product line, incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, electric-trolley and now battery-electric. New Flyer actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service.

Through its Canadian and U.S. subsidiaries, Motor Coach Industries Limited and Motor Coach Industries, Inc., the Company is North America's leader in motor coaches, offering the MCI J4500,which is the industry's best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry`s best-selling coach line in North American motor coach history. MCI is also the exclusive distributor of Setra S417 and S407 in the United States and Canada. MCI actively supports over 28,000 motor coaches currently in service and offers 24-hour roadside assistance 365 days a year.

The Company also operates North America's most comprehensive aftermarket parts organization providing support for all types of transit buses and motor coaches. All buses and coaches are supported by an industry-leading comprehensive warranty, service and support network.

Further information is available on the Company's websites at www.newflyer.com and www.mcicoach.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.

Forward-Looking Statements
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 suspend or 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: Jon Koffman, Investor Relations, Tel: 204-224-6672

RELATED LINKS
http://www.newflyer.com

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