WINNIPEG, March 1 /CNW/ - New Flyer Industries Inc. (TSX:NFI.UN), the
leading manufacturer of heavy-duty transit vehicles in Canada and the United
States, has been awarded a number of bus orders for a wide range of vehicles,
including 35-foot, 40-foot and 60-foot buses with diesel, diesel-electric, and
compressed natural gas (CNG) propulsion systems. Customers have ordered 1,026
new buses, 821 of which are firm orders and 205 are options, for a total price
of almost US $423 Million (an exchange rate of US $1.00 equals Cdn $1.17 was
used for the Canadian contracts).
Some of the larger orders include:
- Chicago Transit Authority in Chicago, IL has exercised options for
200 40-foot diesel buses
- City of Edmonton Transit in Edmonton, AB has exercised options for
231 40-foot diesel buses
- Connecticut Department of Transportation has exercised options for 67
40-foot diesel buses together with six 35-foot diesel buses
- Metro Transit of Minneapolis, MN has placed a new order for a base
quantity of a combination of 10 diesel and diesel hybrid buses with
options for a combination of an additional 55 diesel and diesel
- Translink in Vancouver, BC has placed a new order for a base quantity
of 16 60-foot diesel buses with options for an additional 45 diesel
- The City and County of Honolulu in Honolulu, HI has placed a new
order for a base quantity of nine 60-foot diesel buses with options
for an additional 47 60-foot diesel buses
- OC Transpo in Ottawa, ON has exercised options 24 Invero 40-foot
During the second half of 2006 New Flyer ramped up production in its
facilities by more than 25% to accommodate the anticipated increase in demand.
The ramp-up in production was completed in the first quarter of 2007.
Continued confidence in New Flyer's products is evidence of the company's
success in providing the most reliable products and the most comprehensive
support in the industry.
New Flyer's existing customers acknowledge the company's dedication to
providing industry-leading products and service. Recently, the Metropolitan
Atlanta Rapid Transit Authority (MARTA) presented New Flyer of America Inc., a
subsidiary of New Flyer Industries Inc., with the inaugural 2006 Effective
Partnership in Quality Medal. New Flyer was selected as a result of its
quality products that exceeded MARTA's expectations for customer support and
its demonstrated quality and safety leadership initiatives.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. The Company's three facilities -- in Winnipeg,
MB, St. Cloud, MN and Crookston, MN -- are all ISO 9001, ISO 14001 and OHSAS
18001 certified. With a skilled workforce of over 2,100 employees, New Flyer
is a technology leader in the heavy-duty transit market, 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 gasoline-electric
and diesel-electric hybrid vehicles. All of New Flyer's products are supported
by an industry-leading, comprehensive parts and service network. New Flyer's
Income Deposit Securities are traded on the Toronto Stock Exchange under the
symbol NFI.UN. Further information is available on Company's web site at
www.newflyer.com and on SEDAR at www.sedar.com.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of NFI and New
Flyer Industries Canada ULC ("NFI ULC") that involve risks and uncertainties.
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 the risks and uncertainties detailed in
the annual information form filed with the Canadian securities regulatory
authorities. Due to the potential impact of these factors, NFI 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.
For further information:
For further information: Glenn Asham, Chief Financial Officer, Phone: