WINNIPEG, Oct. 18, 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 Foothill Transit in West
Covina, CA ("Foothill") has exercised options for 30 additional CNG
powered Bus Rapid Transit ("BRT") buses with NABI Bus, LLC ("NABI" ), a
subsidiary of New Flyer.
In January 2013, Foothill Transit awarded NABI a new contract for 30
model 42-BRT buses, with options for up to 120 additional buses over a
four year period. Foothill has now ordered its next installment by
exercising options for 30 additional new buses.
The 42-BRT was derived from NABI's larger, 60-foot articulated BRT,
already being operated by Foothill Transit. These buses are sleek and
streamlined, with rooftop equipment completely concealed below the
roofline. They also utilize a raked, single-piece windshield and
hidden-frame side windows to add to their chic and iconic appearance.
Foothill Transit's Executive Director, Doran Barnes noted, "One of the
key objectives with this purchase has been to obtain visually
distinctive buses capable of attracting new riders. With bus
appearance and design being critical, the NABI 42-BRT is a natural
choice." Barnes added, "These buses draw positive public attention and
allow us to position public transit as a tech-forward and innovative
transportation option for our communities. Their high seating capacity
helps in our denser cities, and they are loaded with customer-oriented
Paul Soubry, President and CEO of New Flyer commented, "This contract is
Foothill Transit's fourth contract with NABI since 2004. We are very
proud of Foothill's strong relationship with New Flyer's subsidiary,
NABI, and we are excited about how these sleek new buses complement our
overall product portfolio".
Foothill transit's new buses will be produced entirely at NABI's
Anniston, AL manufacturing facility.
About New Flyer
New Flyer, with its recently acquired NABI 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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