WINNIPEG, Nov. 20, 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 the Port Authority of Allegheny County
("Port Authority") in Pittsburgh, PA has approved the purchase of an
additional 40 low floor 60-foot diesel heavy-duty articulated buses (80
equivalent units or "EUs").
This order was placed using options from an existing five year Port
Authority contract with New Flyer, signed August 2010. The contract
enables the assignment of options of which 49 buses still remain after
this procurement and are included in New Flyer's total backlog.
Port Authority's fleet consists of approximately 700 buses, including 61
New Flyer low floor diesel articulated buses that were built in 2011.
The new 40 bus procurement is anticipated to begin production in the
second quarter of 2013 and will be entirely manufactured in New Flyer's
US manufacturing facility in St. Cloud, MN. Delivery of the buses is
expected late in the third quarter of 2013.
"New Flyer is dedicated to building a lasting relationship with a
commitment to support the Port Authority`s buses over their lifetime.
We were very excited to win Port Authority for the first time in 2010
and are thrilled that they have decided to acquire more New Flyer
buses," said Paul Soubry, New Flyer's President and Chief Executive
Officer. "Our Flyer buses are supported by the industry's most
comprehensive service and support network. With aftermarket parts,
field service, technical support, training, publications and
comprehensive product warranties, New Flyer buses truly have support
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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