WINNIPEG, June 24, 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 Canada and the United
States, announced today that BC Transit has awarded New Flyer a
contract for 50 Xcelsior™ compressed natural gas ("CNG") 40-foot
The contract for 50 Xcelsior™ buses contains a firm order of 25 buses
with options for an additional 25 buses that may be exercised at a
later date. These buses will be added to BC Transit's approximately 650
heavy duty bus fleet and will operate throughout Nanaimo, BC. Between
1992 and 2009 New Flyer has built and delivered 316 buses to BC
"Our last project with BC Transit was for Hydrogen Fuel Cell buses in
2009. We're really excited to once again collaborate with BC Transit
on bringing another clean fuel bus fleet to British Columbia," said
Paul Soubry, President and CEO of New Flyer. "Not only is this the
first time we will build our Xcelsior™ model for BC Transit, it's also
the first CNG bus we have ever built for them."
"We look forward to partnering again with New Flyer as BC Transit
introduces its first-ever CNG fleet," said BC Transit President and CEO
Manuel Achadinha. "Sustainability is a core value at BC Transit, and
the addition of CNG fuelled buses helps further our green fleet
"The Regional District of Nanaimo is excited to be receiving the first
CNG fleet in BC Transit," said Diane Brennan, Regional District of
Nanaimo Transit Select Committee Chair. "CNG New Flyer buses will help
play an integral role in achieving our region's environmental and
The 25 CNG buses are anticipated to begin production in the fourth
quarter of 2013 and all buses are expected to be delivered in the first
quarter of 2014.
About New Flyer
New Flyer is a leading manufacturer of heavy-duty transit buses in
Canada and the United States. 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 NABI 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 transit buses.
Together New Flyer and NABI 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.
For further information: