WINNIPEG, Jan. 17, 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 Orange County Transportation Authority
("OCTA") has approved the purchase of 20 (40 equivalent units or "EUs")
Xcelsior compressed natural gas (CNG) 60-foot articulated heavy-duty
The 20 buses were purchased under an umbrella contract with the
procurement department of a US State. New Flyer entered into this
umbrella contract in January 2012. The contract is a 'standing offer'
open to any US public transit agencies for up to 650 buses.
Since 1990, New Flyer is proud to have delivered a total of 571 buses to
OCTA, whose active transit fleet consists of approximately 592 buses.
The building blocks of our growing relationship are based on a long
standing partnership that is committed to a quality product, value and
support for the life of all their New Flyer buses. OCTA's growing fleet
of environmentally friendly New Flyer CNG buses consists of
approximately 300 CNG buses that have been built over the past 6 years.
"New Flyer offers nearly two decades of CNG design and manufacturing
expertise. Our system is designed specifically for our buses and our
CNG tanks are certified for a 20-year service life," said Paul Soubry,
President and CEO of New Flyer. "Not only do we meet today's CNG
standards and safety requirements, we exceed them. These are just some
of the features that we`ve made standard; adding value without the
This award was part of the group of firm and option orders for 509 EUs
received just prior to the end of 2012 noted in the New Flyer press
release of January 9, 2013 as included in the New Flyer backlog, but
awaiting approval for the issue of a detailed announcement.
The 20 buses are expected to begin production late in the first quarter
of 2013 and are anticipated to be delivered early in the fourth quarter
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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