WINNIPEG, May 12, 2014 /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 South Coast
British Columbia Transportation Authority ("TransLink"), located in
Vancouver, British Columbia has approved a firm order to purchase 45
Xcelsior® compressed natural gas ("CNG") 40-foot heavy-duty buses with options to
purchase an additional 135 through two single-year renewable option
Since 1991 New Flyer has delivered over 1,100 buses for TransLink
ranging from high floor to low floor models, including our recent
best-in-class Xcelsior® model. Translink has taken delivery of buses raging from 40-foot and
60-foot lengths and with numerous propulsion types including: clean
diesel, diesel-electric hybrid, natural gas, and electric trolleys.
"The technology associated with CNG buses have proved to be cost
effective to operate and on par to maintain and drive when compared to
traditional diesel buses," said Doug Kelsey, TransLink's Chief
Operating Officer. "We are pleased to continue our partnership with New
Flyer as we add more of these vehicles to our fleet."
"We are proud to have the confidence of TransLink and excited for the
opportunity to continue to grow our partnership with this upcoming
build," said Paul Soubry, New Flyer President and Chief Executive
Officer. "2006 was the last time we delivered CNG buses to TransLink
and we're looking forward to the opportunity to showcase our proven CNG
expertise on our Xcelsior model for the first time for TransLink."
The firm order for 45 buses are anticipated to be manufactured in the
third quarter of 2014 and are all expected to be delivered by the first
quarter of 2015.
About New Flyer
New Flyer, with its recently acquired NABI Bus, LLC subsidiary, is the
leading manufacturer of heavy-duty transit buses in the United States
and Canada. The Company is the industry technology leader and offers
the broadest product line including drive systems powered by: clean
diesel, natural gas and electric trolley as well as energy-efficient
diesel-electric hybrid vehicles. All buses are supported by an
industry-leading comprehensive warranty and support program, and
service network. New Flyer and its subsidiaries NABI Bus, LLC and NABI
Parts, LLC also operate the transit industry's most sophisticated
aftermarket parts organization, sourcing parts from hundreds of
different suppliers and providing support for all types of heavy-duty
The New Flyer group of companies employ over 3,000 team members with
manufacturing, fabrication, parts distribution and service centers in
both Canada and the United States. Further information is available on
New Flyer's web site at www.newflyer.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.
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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