WINNIPEG, MB, Nov. 19, 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 Canada and the United
States, announced today that the Nashville Metropolitan Transit
Authority ("Nashville MTA") has awarded New Flyer a contract for 70
(140 equivalent units or "EUs") Xcelsior diesel-electric hybrid 60-foot
articulated heavy-duty buses.
The 3 year contract, with 2 years of renewable options, contains a firm
order for 10 buses (20 EUs) with options for an additional 60 buses
(120 EUs). Nashville MTA is a new customer for New Flyer and has an
active fleet of approximately 150 heavy-duty transit buses.
"New Flyer is proud to have been selected by Nashville MTA, for the
first time, to provide our environmentally friendly hybrid bus. This
selection of the Xcelsior bus reflects its heritage, quality, styling
and maintainability critical to their operating environment and their
customer requirements," said Paul Soubry, New Flyer's President and
Chief Executive Officer. "We are committed to a strong and lasting
relationship through New Flyer warranty, service, training, spare parts
support and our lifetime customer care program."
"We are pleased to enter into this agreement with New Flyer," said Paul
J. Ballard, Chief Executive Officer, Nashville MTA. "These new buses
are an important investment that will help us increase services and
enhance our customers' transit experience. This purchase also
demonstrates our on-going commitment to improving public transit
services in the region as well as our air quality. We are on our way to
becoming a more green-friendly transit system."
The 10 buses are anticipated to begin production in the first quarter of
2013 and will be completely manufactured and assembled at New Flyer of
America's St. Cloud, Minnesota manufacturing facility. All buses are
expected to be delivered by May 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 and Winnipeg, MB - 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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